Polymarket trader with over $11 million in losses backs Raptors spread bet

A separate Polymarket account with more than $3.3 million in profits placed a $158,000 wager on the Hornets to beat the Kings, and Charlotte’s strong first half pushed the market price near certainty.

Summary

New Polymarket activity showed a profitable account with more than $3.3 million in gains betting $158,000 on the Charlotte Hornets to defeat the Sacramento Kings at 93 cents. The NBA regular-season game started at 7 a.m. Beijing time, and with Charlotte leading 72-47 at halftime, the Hornets win price rose to 99.6 cents. This adds a new example of large sports-event positioning on the crypto prediction market, distinct from the previously noted Raptors spread trade by an account with over $11 million in losses.

Terms & Concepts
  • Polymarket: A crypto prediction market where users trade on the outcome of real-world events using blockchain-based positions.
  • Market price: The current trading value of a position, reflecting how participants assess the probability of an outcome.