In the weeks leading up to the 2024 presidential election, what appeared to be a small group of traders dumped millions of dollars into Polymarket, betting that Donald Trump would win. It turns out it was just one French whale who had pushed tens of millions of dollars into the market,

Tuesday night's election returns were a shocker if you only watched CNN. But not if you'd looked at the betting all along.

Prediction markets, which surged to prominence during the presidential campaign, started reflecting a likely Trump win several weeks ago, even as opinion polls showed a tight race.