French Gambler's High-Stakes Bet on Trump Under Scrutiny

France's gambling regulator is investigating Polymarket, a platform where a French trader won millions betting on a Trump election victory, to ensure compliance with French laws. Polymarket investigated the trader, finding no market manipulation, but acknowledges the bets were based on personal election views.

France's gambling regulatory body is currently probing Polymarket, a platform through which a French trader succeeded in placing a multimillion-dollar bet on Donald Trump's victory in the U.S. presidential election. ANJ spokesperson Elsa Trochet-Mace confirmed that the platform's operations and adherence to French gambling laws are under examination.

Polymarket has not issued any comments concerning the inquiry. Last month, the crypto-fueled offshore exchange revealed that the mysterious trader placing multiple bets on a Trump win was identified as a French national.

Following an internal investigation, Polymarket established that the trader, with substantial trading experience and a background in financial services, placed wagers based on personal perspectives of the election. They concluded that there was no evidence to suggest the trader manipulated or attempted to manipulate the market.

(With inputs from agencies.)