Blockchain analysis firm Chainalysis revealed that these bets were made through nine different Polymarket accounts and the investor in question earned a total of approximately $78.7 million.

It was initially reported that this investor, under the usernames Theo4 and Fredi9999, made close to $22 million across four different accounts betting on Trump’s presidential victory.

Theo4 has attracted attention as one of Polymarket’s largest participants, and some analysts have expressed concerns that investor bets could create market manipulation. However, Polymarket rejected these claims and explained that the investor’s bets were based on personal opinions and that there was no manipulation purpose.

Polymarket CEO Shayne Coplan also denied allegations that Polymarket was politically biased in a statement in October. Coplan stated that the Polygon-based betting platform is an unbiased data source and only benefits from excitement around the election.

These comments came in response to an article by The New York Times that accused Polymarket of political manipulation and described it as merely “crypto-backed gambling.”

However, on November 6, Chainalysis uncovered five additional accounts belonging to the same investor. These accounts are linked by funding patterns, transaction timings, and withdrawals to specific exchange deposit addresses, he noted.

According to Chainalysis’ analysis, the investor earned approximately $79 million across all accounts.

In his previous statements, Theo4 stated that his bets were based entirely on financial motivation and that his aim was only to make money. He emphasized that there was no political aim.

France’s gambling regulatory authorities are scrutinizing Polymarket’s activities. The National Gambling Authority is assessing Polymarket’s compliance with French gambling laws. However, no official statement has been made on this issue so far.

Although decentralized betting platforms such as Polymarket have gained great popularity in recent years, regulatory authorities in countries have concerns about the legal status of such platforms.

These developments pose a major threat to Polymarket and similar platforms, as countries try to clarify the legal boundaries of decentralized finance and betting platforms.

France’s gambling regulations are quite strict in overseeing the activities of online betting platforms. Polymarket’s compliance with these controls could be an important turning point for the future of the platform.

However, uncertainty about whether decentralized platforms will be regulated remains an ongoing topic of discussion in the crypto and digital betting world.

As the growing popularity of Polymarket and similar decentralized betting platforms continues to attract the attention of regulators, investors and users will have to learn more about the legal status of such platforms.

Regulators in countries such as France monitoring platforms could be an important development that will shape the future of decentralized betting on a global scale.