Zohran Mamdani’s victory over Andrew Cuomo to develop into New York Metropolis’s 111th mayor drew document voter turnout and $424 million in Polymarket betting quantity, leaving one dealer nursing heavy losses after wagering towards him.
One bettor by the deal with ‘fuxfux007’ is down $969,169 after betting towards Mamdani. The dealer seems to be new to Polymarket, in line with Polymarket Analytics, with solely two bets: one towards Mamdani price $973,757 and one for him price $42,973.
On the opposite facet, the most important winner of the night time was a dealer referred to as ‘debased’ who pocketed $188,487 betting on Mamdani.
Ultimately, Polymarket accurately predicted the election’s consequence, aligning with polls. Nonetheless, it wasn’t with out controversy: billionaire Invoice Ackman claimed prediction markets have been being rigged with malicious orders to make it seem like Mamdami’s probabilities have been larger than anticipated.
These claims echo final yr’s U.S. election debate, when mainstream retailers accused Polymarket of manipulation after a French dealer’s multimillion-dollar wagers inflated Donald Trump’s odds.
On the time, specialists informed CoinDesk that makes an attempt to rig costs have been short-lived and largely self-correcting, since arbitrage and liquidity from skilled corporations shortly take away dangerous pricing.
Merchants took the identical place on the eve of the New York election, with some declaring {that a} guess on Mamdani within the days earlier than polls opened was successfully a assured bond with 5% curiosity.