An unidentified trader earned about $410,000 by betting that Venezuelan President Nicolás Maduro would be removed from office, Reuters reported.
The trader placed the bets on Polymarket, a platform that allows users to wager on real-world events. Initially, the bets were valued at around $34,000, reflecting low expectations of Maduro’s removal. However, their value surged after reports emerged that the U.S. military had captured Maduro over the weekend, according to Polymarket data.
Prediction markets such as Polymarket offer yes-or-no contracts tied to real-world events, including political and economic outcomes. These contracts can cost just a few cents...