A new report from Bloomberg notes that a “handful of accounts” have “spent millions of dollars worth of crypto on bets in favor of Trump’s return to the White House.” Indeed, the Wall Street Journal recently ran a story on four highly active Polymarket accounts that have been exuberantly betting on the U.

BI compiled data on the trading activity of the Polymarket "whale" accounts and found two of them placed more than 2,500 bets in the past 24 hours.

Polymarket faces scrutiny after large Trump election bets spark concerns over market manipulation. We explore big wagers affecting U.S. election predictions.

Cryptocurrency-based predictions market Polymarket is conducting fresh checks to verify that big spenders on its platform are based outside of the US, since people in that country aren’t allowed to trade on the website that has seen a surge in bets favoring Donald Trump to win the presidential election.

Polymarket odds offer a useful gauge for predicting the upcoming election, but there are significant caveats. Real-time prediction markets can react faster than polls, making them a key part of the 24/7 news cycle leading up to the November 5 vote.