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Four accounts with large bets on Polymarket owned by

non-Americans

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Trump's odds of winning on Polymarket at 63% vs. Harris'

37%

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CFTC Chairman Behnam calls for Congress to weigh in on

election

betting

By Michelle Conlin

NEW YORK, Oct 21 (Reuters) - One of the four accounts on

Polymarket that have fueled speculation over their large bets on

a Trump election victory has taken even bigger wagers,

increasing the collective potential payout if Trump wins from

$30 million on Friday to nearly $43 million Monday morning,

according to Polymarket's activity tracker.

The four accounts on the cryptocurrency-prediction exchange are

owned by non-Americans or a single non-American, a person

familiar with the matter told Reuters on Friday, speaking on

condition of anonymity.

The bets, coming with the rise in Trump's odds on Polymarket,

have drawn scrutiny because they diverge sharply from opinion

polls. Polls have indicated a neck-and-neck race between Vice

President Kamala Harris and former President Donald Trump.

On Polymarket, however, Trump's chances have soared to 63%

versus Harris's 37%. Odds on other prediction markets, such as

Kalshi and PredictIt, have followed suit.

That has raised questions by social media users and

prediction-market experts about whether large bets were swaying

the markets or whether prediction markets were simply a better

leading indicator.

On Monday, Commodity Futures Trading Commission Chairman

Rostin Behnam said betting on the election "puts us in a very

difficult place. It makes us an election cop."

Speaking to a Wall Street trade group, Behnam said Congress

should weigh in on the permissibility of election-related

betting, noting that "we don't want to put democracy and

elections in jeopardy."

Polymarket shares are priced on the probability of the

outcome. If Trump's chances of winning the election are trading

at 60 cents, for example, it means that the market thinks there

is a 60% chance of a Trump win, according to the website. If

Trump wins, the buyer gets $1 per share. If Trump loses, the

shares become worthless.

Social-media users had questioned whether high-profile

Americans could be behind the moves. The source confirmed to

Reuters on Friday that Polymarket verifies its largest traders

and the accounts were based overseas.

Reuters could not immediately determine if the four accounts

- named Fredi9999, Theo4, PrincessCaro, and Michie - represent a

single trader or many. Those accounts added up to holding nearly

$43 million in shares in total on Monday, compared with $30

million on Friday. One share equals one dollar.

Bettors on Polymarket have wagered $1.1 billion on the

presidential race.

Polymarket, based in New York, did not respond to a request

for comment on Monday regarding the increased size of the

accounts.

Americans have faced steep restrictions on betting on U.S.

elections online. The CFTC has previously rejected applications

to offer contracts or derivatives that allow Americans to bet on

elections.

The CFTC did not respond to a request for comment on Monday.