An unknown trader has raked in a profit worth about $410,000 after betting that Venezuelan president Nicolas Maduro would be ousted from his position.
The trader's account on Polymarket built up positions in contracts tied to Maduro's removal on terms that implied long odds before the weekend raid. Those wagers, which were worth about $34,000 prior to Maduro's capture, surged in value after news of the U.S. military operation on the Venezuelan leader emerged, Polymarket data shows.
The anonymous account was created last month, with the trader buying up $96 worth of contracts on December 27 that would pay off if the U.S. invaded Venezuela by January 31. The trader then made several more similar bets in the following days.
The mystery trade is likely to attract scrutiny from U.S. lawmakers who have been pushing for stricter insider trading rules, including a bipartisan effort to potentially ban trading of stocks by lawmakers.