A trader lost $1 million on Polymarket due to Spain's unexpected upset in the World Cup.

PANews reported on June 16th that, according to Decrypt, an anonymous trader placed a $1 million bet on Polymarket to beat Spain in the World Cup group stage match between Spain and Cape Verde. The match ended in a 0-0 draw, leaving the trader with nothing. The match was initially considered a foregone conclusion: Spain, the European champions, were unbeaten in 30 games, while Cape Verde was making its World Cup debut, with Polymarket predicting their chances of winning were less than 1%. However, Cape Verde's 40-year-old goalkeeper made eight saves, keeping a clean sheet. Another user, "Fishalive," bet on Spain not winning, buying approximately 4.7 million shares at an average price of 9 cents per share. After the match, each share was sold for 100 cents, resulting in a profit of approximately $4.31 million, a return of over 1000%.

Share to:

Author: PA一线

This content is for market information only and is not investment advice.

Follow PANews official accounts, navigate bull and bear markets together
PANews APP
Brazil's new bill proposes establishing a permanent financial sandbox to support blockchain and tokenization testing.
PANews Newsflash