Mystery Trader Strikes it Big on Maduro's Ouster Bet

An anonymous Polymarket trader profited approximately $410,000 from bets tied to Venezuelan President Nicolas Maduro's removal. After a U.S. military operation captured Maduro, the value of contracts surged. The trade raises scrutiny over potential insider trading, and lawmakers are pushing for stricter regulation on market predictions.

An anonymous trader has made headlines by amassing a profit of about $410,000 following strategic bets on Venezuelan President Nicolas Maduro's ousting, facilitated through the Polymarket platform. Initially valued at $34,000, these contracts surged after news broke of the U.S. military action against Maduro.

Investment ripples were felt as major stock indexes rose and oil prices climbed on Monday. Venezuelan government bonds and state oil company securities saw significant gains, driven by optimism over potential debt restructuring. The trades captured attention from U.S. lawmakers advocating for stricter insider trading regulations.

After the Maduro trades surfaced, Democrat Ritchie Torres announced plans to propose a bill prohibiting elected officials from engaging in prediction markets. The controversial wager was initiated on December 27, with the trader investing in contracts that bet on a U.S. invasion of Venezuela by January 31.

(With inputs from agencies.)