A trader on the Polymarket platform has recently made over $10 million in total profits by placing accurate bets on various events on the decentralized betting network, a move that has further raised concerns about insider trading on prediction markets.
Polymarket is a decentralized prediction market that allows users to place bets on the outcome of events such as sports, economics, politics, etc., and as a result, earn money if their predictions are right. Polymarket is currently the largest prediction market in the DeFi landscape, with a $369.69 million in TVL, according to data from DeFiLlama. Kalshi, OPINION, Probable, and Predict.fun are the second, third, fourth, and fifth largest prediction markets in that respective order in terms of TVL as per DeFiLlama metrics.
Trader Gains Through Strategic Betting
Today, market analyst Lookonchain spotted a prominent trader recognized as “kch123,” who has achieved significant profits on the Polymarket platform. According to the on-chain metrics, Lookonchain identified that the kch123 trader recently made over $11 million in total profits through betting on different events on Polymarket.
Lookonchain’s data analysis indicates that the trader placed five bets during the 2026 Super Bowl game that occurred on February 8, 2026. Fortunately, he won all five bets, making $1.8 million in just one day. Based on the snapchat of his profits during that day, the kch123 trader earned $986,792 from a spread bet on the Seahawks (-4.5). He also earned $298,946 from Seahawks vs. Patriots. He further earned $235,343 from Will the Seattle Seahawks win Super Bowl 2026. Moreover, he earned $220,760 from Spread: Seahawks (-5.5), and also earned $62,507 from Will the New England Patriots win Super Bowl 2026.
With the latest earnings, the kch123 trader has ended up making over $11 million in profit from all his well-trend trades on Polymarket.
While the trader’s high betting success rate may point out that this is not a stroke of luck, there is no evidence of an insider trading deal. Recently, the crypto community aired divided opinions regarding the operations of prediction markets. Some crypto users feel that prediction markets are engaging in insider trading, revealing hidden information to some participants to produce more accurate forecasts at the expense of others.
Polymarket Captures Top Prediction Market Position
Amid the controversy, the past, Polymarket denounced claims of market manipulation, as it captured attention with large-scale bets on the 2024 US presidential election. The market cited no evidence of such malpractices in relation to betting activity.
Meanwhile, Polymarket has emerged as the leading prediction market, after it generated $1.08 million in trading fee revenue over the past week, as per the latest metrics from Dune Analytics. The record places it as the leader of the prediction market sector, ahead of its rivals.
Its closed competitors include OPINION and Limitless Exchange, which secured the second and third positions after generating trading fees worth $878,000 and $147,000 last week, respectively.
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