Zohran Mamdani’s victory over Andrew Cuomo to change into New York Metropolis’s 111th mayor drew file 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 accordance with Polymarket Analytics, with solely two bets: one towards Mamdani value $973,757 and one for him value $42,973.
On the opposite aspect, the largest winner of the night time was a dealer often known as ‘debased’ who pocketed $188,487 betting on Mamdani.
Ultimately, Polymarket accurately predicted the election’s end result, aligning with polls. Nonetheless, it wasn’t with out controversy: billionaire Invoice Ackman claimed prediction markets had been being rigged with malicious orders to make it appear to be Mamdami’s probabilities had been larger than anticipated.
These claims echo final 12 months’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, consultants informed CoinDesk that makes an attempt to rig costs had been short-lived and principally self-correcting, since arbitrage and liquidity from skilled companies shortly take away dangerous pricing.
Merchants took the identical place on the eve of the New York election, with some mentioning {that a} wager on Mamdani within the days earlier than polls opened was successfully a assured bond with 5% curiosity.
