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All rights reserved. <a href="https://help.foxbusiness.com/hc/en-us/sections/4405278462107-FAQ">FAQ</a> - <a href="/privacy-policy">New Privacy Policy</a><br>Kalshi co-founder and CEO Tarek Mansour discusses the business of election betting on 'Making Money.' <br>Millions of Americans placed election prediction bets in the weeks leading up to Election Day, and one of <a href="https://www.foxbusiness.com/markets/trumps-white-house-win-sends-dow-up-1000-points" target="_blank" rel="noopener">those market bettors</a> is walking away with much more than previously estimated.<br>A French individual known by the name of "Theo" originally put more than $30 million on a Donald Trump White House win on the crypto-based trading platform Polymarket.<br>The anonymous bettor was originally projected to take home a profit of $48 million on the wager, but blockchain data firm Chainalysis provided an update on Thursday that the profit number is actually closer to $84 million.<br>"We identified a 10th address associated with ‘Theo’ which increases the estimated total profit by $4.8M to $83.5M," Chainalysis’ X account posted. "An 11th address is suspected with another $2.1M profit, but unconfirmed."<br><a href="https://www.foxbusiness.com/markets/secs-uyeda-backs-trumps-plan-end-crypto-crackdown" target="_blank" rel="noopener"><strong><u>S.E.C. COMMISSIONER BACKS TRUMP'S PLAN TO END CRYPTO CRACKDOWN</u></strong></a><br>Polymarket gamblers allegedly spent $3.7 billion in election bets, and even more money was spent on competitor platforms like Robinhood, Kalshi, Interactive Brokers and PredictIt.<br><span>The anonymous French election bettor known as "Theo" made upwards of $80 million off the former president's 2024 win.</span><span> (Getty Images)</span><br>Just <a href="https://www.foxbusiness.com/politics/trump-dominating-over-harris-betting-markets-ahead-election-day" target="_blank" rel="noopener">hours before Election Day</a>, Polymarket, which is the largest prediction market, saw Trump as having a 58.1% chance of taking back the White House, compared to Vice President Kamala Harris at 41.9%.<br>Kalshi traders saw Trump with a 55% chance of victory, to Harris' 45%, and RealClearPolitics betting odds data collectively gave the former president a 57.9% chance of winning the election, compared to Harris' 40.7%.<br>"Theo" exclusively <a href="https://www.wsj.com/finance/how-the-trump-whale-correctly-called-the-election-cb7eef1d" target="_blank" rel="nofollow noopener">spoke to the Wall Street Journal</a> during a Zoom call last week where he said: "My intent is just making money… I have absolutely no political agenda."<br><a href="https://www.foxbusiness.com/apps-products" target="_blank" rel="noopener"><strong><u>GET FOX BUSINESS ON THE GO BY CLICKING HERE</u></strong></a><br>MacroMavens founder and President Stephanie Pomboy analyzes the U.S. economy on Election Day.<br>Theo was originally believed to have four Polymarket accounts, but Chainalysis additionally claimed it could be as many as 11.<br>Polymarket is a relatively new trading platform, created just four years ago, but proved to be a way to keep American voters engaged throughout the 2024 election cycle.<br><a href="https://foxbusiness.com" target="_blank" rel="noopener"><strong><u>READ MORE FROM FOX BUSINESS</u></strong></a><br><i>FOX Business’ Breck Dumas contributed to this report.</i><br>Get a brief on the top business stories of the week, plus CEO interviews, market updates, tech and money news that matters to you.<br>We've added you to our mailing list.<br>By clicking subscribe, you agree to the Fox News <a href="https://www.foxnews.com/privacy-policy" target="_blank" rel="noopener">Privacy Policy</a> and <a href="https://www.foxnews.com/terms-of-use" target="_blank" rel="noopener">Terms of Use</a>, and agree to receive content and promotional communications from Fox News. 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All rights reserved. <a href="https://help.foxbusiness.com/hc/en-us/sections/4405278462107-FAQ">FAQ</a> - <a href="/privacy-policy">New Privacy Policy</a><br><br><a href="https://news.google.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?oc=5">source</a>
