Polymarket user wins nearly $1m on Trump’s X Space with Musk

A savvy Polymarket user walked away with almost $1 million after accurately predicting the exact words former President Donald Trump would—and would not say—during a high-profile X Spaces conversation with Elon Musk.

Known as “bama124” on the decentralized betting platform, the user has built an impressive portfolio with a total position value of over $2.25 million after only joining Polymarket in July.

This @Polymarket user walked away with close to $1m guessing correctly on what words @realDonaldTrump would or would not say during the @XSpaces with @elonmusk https://t.co/YQSogcy8ED pic.twitter.com/Xko3Bpg5w2

— Sam Reynolds (@thesamreynolds) August 13, 2024

Some of the markets bama124 bet on during the highly-publicized Trump-Musk conversation were key phrases that the Republican presidential candidate might use, including “crypto,” “Bitcoin (BTC),” “Tesla,” and “censorship.” The bettor correctly predicted that the former president would not mention any of those terms.

For instance, bama124’s position in the “Will Trump say ‘crypto’ during the Elon interview?” market surged by 57.15%, netting them $122,645. Similarly, the bet that Trump would avoid saying “Bitcoin” during the chat earned bama124 a 65.68% return, adding another $74,954 to their winnings.

You might also like: Polymarket users wager on Harris defeating Trump

The bettor traded in 77 different markets in total, with a trading volume exceeding $11.6 million. And despite suffering a few losses, such as a $67,000 hit on a bet that Trump would avoid the word “tampon,” bama124’s seemingly sharp instincts and strategic plays resulted in an impressive $964,402 profit.

More than 1 million X users tuned in to listen to the Trump-Musk chat, in which several issues, including how Trump will secure the United States border with Mexico as well as Russia’s invasion of Ukraine, were discussed.

The conversation was delayed for more than 45 minutes, with X owner Elon Musk claiming it was due to a massive distributed denial of service attack on the social media platform.

However, upon resumption, and much to the surprise of the crypto community, nothing was said regarding crypto, even with the issue becoming key in both Trump and Democratic presidential candidate Kamala Harris’ campaigns.

The former president previously suggested using Bitcoin to reduce the country’s $35 trillion national debt and is even accepting campaign donations in the form of crypto.

Read more: Tyler Winklevoss: How did Kamala Harris miss the crypto roundtable?

Source