Among those talking it up is Elon Musk, who has claimed the online market is more accurate than political polls, and boosted it on his X account. Another is Joe Kernen, the conservative-leaning CNBC Squawk Box co-host, who has repeatedly referenced it on air and on X.

Four Polymarket accounts that appear to be connected have bet $30 million that Trump will win the election, according to Arkham Intelligence.

On October 16, a professional political bettor who goes by the name Domer posted on X about a mysterious, seemingly French trader he called “Monsieur Whale.” What followed was a fairly thorough examination of trading data on Polymarket that pointed to a single trader distorting the market.

"Crypto is the rare instance, where the difference in election outcome could determine the destiny of the industry," a Wall Street analyst said.

Experts are skeptical that a betting market being pushed by MAGA supporters of Donald Trump as proof that the former president is a sure bet to reclaim the White House is not the ace in the hole it’s proclaiming to be.

Something big is going down on the crypto-powered prediction market Polymarket, and all signs are pointing to Donald Trump. In the last 72 hours, at least $30 million has been thrown behind Trump’s 2024 presidential run,