The Polymarket 'whale' banked $48 million in profits on Trump's election win

• A French trader profited $48 million betting on Trump's election win via Polymarket.
• The trader, known as Théo, wagered heavily on Trump winning the Electoral College and the popular vote.

The Polymarket "whale" who bet about $30 million on a Donald Trump election win saw about $48 million in profits, according to data from the crypto-based betting platform.

The anonymous election bettor, recently revealed to be a trader from France who goes by Théo, controlled four accounts that wagered heavily on Trump to win both the Electoral College and the popular vote.

With the election over, the French bettor has catapulted to the top of Polymarket's all-time profit leaderboard.

As of Wednesday morning, the Theo4 Polymarket account is sitting on about $22 million in profits.

Meanwhile, the three other accounts controlled by the whale — Fredi9999, PrincessCaro, and Michie — have a combined $26 million in profits.

The massive gains on Wednesday represent a big swing into the green for the bettor. The day before the election, he held onto about $3 million in unrealized losses across all four of his accounts as the odds of the race tightened and the Trump trade briefly unraveled.

Much speculation has swirled about the identity and motivation of the person behind the accounts, with a number of theories floated in recent weeks about what might be going on.

However, in a report from The Wall Street Journal, the trader said the bets are simply a high-conviction view on the outcome of the election.

"My intent is just making money," he said on a Zoom call with reporters from The Journal last week.

"I have absolutely no political agenda," Théo followed up in an email to the outlet.