With the U.S. election outcome imminent, Polymarket has seen significant interest from anonymous high-stakes bettors wagering millions on former President Donald Trump’s victory.

The offshore crypto-based betting platform shows that one notable bettor stands to earn as much as $29 million if the Republican candidate wins the election.

Its worth noting that while Trump indeed proclaimed victory, it still hasnt been confirmed by all responsible authorities.

Potential $29 Million Payout

A Polymarket account identified only as zxgngl has staked $18 million on Trump winning the Electoral College, potentially yielding over $29 million in winnings if he secures the victory.

Data from blockchain analysis firm Arkham Intelligence reveals that this account was created in October by an anonymous user, who made a series of heavy investments, including $5 million in a single day this past Monday.

Another significant wager comes from an account named walletmobile, which has invested $10 million on the same outcome. Arkham Intelligence data shows that this bettor would walk away with $16 million if Trump wins. Polymarket shows that walletmobile, while initially set up in September, only began making large-scale bets earlier today.

These accounts are the latest to join a wave of high-stakes betting on Polymarket. The Wall Street Journal recently reported that a French bettor, who identifies as Theo, has staked more than $30 million across four separate accounts in favor of a Trump victory.

While Trump supporters dominate the high-dollar betting, Vice President Kamala Harris has also gotten bets. An account named leier has invested approximately $5 million on a Harris victory, which would yield nearly $11 million if she wins. Bettors supporting either candidate face an all-or-nothing risk, with a chance to earn substantial returns or lose their entire stake.

Polymarket Odds In Favor of Trump

At the time of writing,  Polymarket showed a 95% probability of a Trump victory, with the platform asserting Trump’s impending success on its X account.

“Trump is about to give his victory speech. His odds have been 95% on Polymarket for hours. Yet the mainstream media is still stringing you along for ‘critical calls’ and ‘paths to victory,’” the post stated.

Trump’s victory is particularly important for the crypto sector. Throughout his campaign, he maintained a friendly stance on crypto, even proclaiming at the Bitcoin conference in Nashville, Tennessee, that he would fire Gary Gensler, chair of the Securities and Exchange Commission (SEC), who has pursued a more restrictive approach toward digital assets.

Trump has also suggested that he would consider eliminating U.S. taxes on cryptocurrencies, opting instead for a tariff system that could redefine the industry’s regulatory landscape.