A Big Bet on Trump
Someone using the name “Fredi” has been placing huge bets on former President Donald Trump winning the next election on the crypto platform Polymarket. These bets have pushed Trump’s odds way up, from basically even with Vice President Kamala Harris to a whopping 60.7%.
Is Polymarket Being Manipulated?
A crypto bettor named Domer claims Fredi is manipulating the odds. He says Fredi has bet over $25 million on Trump, which has made it more expensive to bet on Trump and cheaper to bet on Harris. This messes with the normal supply and demand of bets on Polymarket, making the odds inaccurate.
Fredi’s Secret Accounts
Domer also says Fredi isn’t just using one account. He’s using multiple accounts – PrincessCaro, Michie, and Theo – which together hold around $28 million. All these accounts seem to be controlled by the same person, and they’re all betting on Trump.
Who is Fredi?
Domer thinks Fredi might be French, based on how he writes online. But Domer also says Fredi could be part of a bigger scheme or just messing around.
Polymarket’s Shady Practices
Other people in the crypto world are also questioning Polymarket’s practices. One person, Hasu, thinks Polymarket is hiding how much money is actually being bet, making it seem like there’s more activity than there really is.
Big Bets, Big Questions
This isn’t the first time someone has tried to influence election odds with big bets. It happened in 2008 and 2012, but it didn’t change the results. Domer wants to know who Fredi is and what he’s trying to do.
The Bottom Line
It’s unclear if Fredi’s bets will actually affect the election, but it’s raising questions about the fairness of crypto prediction markets.
