An anonymous cryptocurrency bettor won around $436,000 by predicting the arrest of Venezuelan President Nicolás Maduro, shortly before the news became official.
The bets were placed on the Polymarket platform, where odds that Maduro would be out of power by the end of January were on the platform, hours before US President Donald Trump's warnings. A single account, opened last month and active only in Venezuela-related markets, won over $436,000 from a bet of $32,537.
The identity of the person who placed the bet remains unknown, as the account is anonymous and is identified only through a blockchain code. Polymarket data shows that the odds of Maduro's removal were only 6.5% on the afternoon of January 2.
These chances rose to 11% just before midnight and then rose significantly in the early hours of January 3.
The sudden surge came shortly before Trump announced on Truth Social that Maduro had been taken into custody by the U.S. Polymarket did not immediately respond to requests for comment on the case.
Dennis Kelleher from the Better Markets organization stated that the person who placed the bet probably had full inside information about what was happening.
Several other Polymarket users also won tens of thousands of dollars from bets on Maduro's arrest.
Democratic Rep. Ritchie Torres introduced a bill to prohibit government employees from placing bets on prediction markets when they possess non-public information.
Prediction markets are growing in the US, while rules against selling inside information are not that strong.