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Polymarket Returns to US Markets Just as Trader Nets $1 Million on Suspicious Google Trends Bet

MarketDash Editorial Team
4 days ago
Polymarket's return to the US under CFTC oversight comes with drama attached. A trader just pocketed over $1 million betting on Google's most-searched person of 2025, raising eyebrows about potential insider knowledge on the platform's viral prediction market.

Back in Business Under Federal Oversight

Polymarket is officially back on American soil, and it only took three years, a regulatory makeover, and a whole lot of paperwork. The prediction markets platform relaunched in the US after securing CFTC approval, marking its first domestic appearance since regulators kicked it out in 2022.

The backstory matters here. The CFTC decided back then that Polymarket was running unregistered event-based derivatives, which is regulatory speak for "you can't do that without permission." That enforcement action resulted in a $1.4 million settlement and a ban on serving US customers.

Rather than sulk about it, the company went shopping. Polymarket acquired a regulated derivatives exchange and clearinghouse to meet compliance standards, then secured a no-action letter in September 2024. That letter essentially gave them the green light to operate under federal supervision.

The iOS app is rolling out now with sports markets leading the charge. Android support is coming next, followed by proposition and election markets down the road. The company's describing this as a long-term plan to offer "markets on everything," which is either ambitious or slightly terrifying depending on your perspective.

The Prediction Market Land Grab

Polymarket's comeback arrives during what you might call peak prediction market mania. Kalshi just raised $1 billion this year at an $11 billion valuation, cementing its position as the heavyweight in regulated forecasting markets. Analysts think Polymarket could hit a $10 billion to $15 billion valuation as trading activity ramps up.

The numbers tell the competitive story. Token Terminal data shows Kalshi processed $4.4 billion in trading volume in October, while Polymarket handled north of $3 billion. Election forecasting and real-time event markets drove much of the 2024 gains, with Bitcoin (BTC) and crypto capital continuing to fuel liquidity across these platforms.

The space is getting crowded fast. Coinbase (COIN) is building a prediction product tied to Kalshi's infrastructure, and Trump-backed Truth Social announced plans to add prediction markets as part of its financial tools expansion.

When a Million-Dollar Bet Looks a Little Too Good

Now for the juicy part. Polymarket's return coincides with a market that went absolutely viral for all the wrong reasons. A prominent account called AlphaRaccoon placed millions of dollars in bets tied to Google Search trends, specifically around Google's "Year in Search" rankings.

Public blockchain data shows this trader deposited $3 million last week and started building massive positions across multiple markets linked to those rankings. The biggest win came from betting against Pope Francis and Bianca Censori in the "most searched person" market. The trader also bought early exposure to the actual winner, singer d4vd, whose shares were trading around 5 cents when these positions went down.

Observers estimate AlphaRaccoon walked away with more than $1 million across these combined markets. That's the kind of return that makes people ask questions, particularly when the timing looks suspiciously prescient.

It wasn't just one trader either. Another post on X highlighted a different account that earned over $100,000 on a Gemini market, showing how multiple traders executed aggressive bets on the platform with remarkable accuracy.

Whether this represents genuine market insight, lucky timing, or something more problematic remains an open question. But it's certainly an interesting way to kick off Polymarket's regulated US comeback.

Back to News

Polymarket Returns to US Markets Just as Trader Nets $1 Million on Suspicious Google Trends Bet

MarketDash Editorial Team
4 days ago
Polymarket's return to the US under CFTC oversight comes with drama attached. A trader just pocketed over $1 million betting on Google's most-searched person of 2025, raising eyebrows about potential insider knowledge on the platform's viral prediction market.

Back in Business Under Federal Oversight

Polymarket is officially back on American soil, and it only took three years, a regulatory makeover, and a whole lot of paperwork. The prediction markets platform relaunched in the US after securing CFTC approval, marking its first domestic appearance since regulators kicked it out in 2022.

The backstory matters here. The CFTC decided back then that Polymarket was running unregistered event-based derivatives, which is regulatory speak for "you can't do that without permission." That enforcement action resulted in a $1.4 million settlement and a ban on serving US customers.

Rather than sulk about it, the company went shopping. Polymarket acquired a regulated derivatives exchange and clearinghouse to meet compliance standards, then secured a no-action letter in September 2024. That letter essentially gave them the green light to operate under federal supervision.

The iOS app is rolling out now with sports markets leading the charge. Android support is coming next, followed by proposition and election markets down the road. The company's describing this as a long-term plan to offer "markets on everything," which is either ambitious or slightly terrifying depending on your perspective.

The Prediction Market Land Grab

Polymarket's comeback arrives during what you might call peak prediction market mania. Kalshi just raised $1 billion this year at an $11 billion valuation, cementing its position as the heavyweight in regulated forecasting markets. Analysts think Polymarket could hit a $10 billion to $15 billion valuation as trading activity ramps up.

The numbers tell the competitive story. Token Terminal data shows Kalshi processed $4.4 billion in trading volume in October, while Polymarket handled north of $3 billion. Election forecasting and real-time event markets drove much of the 2024 gains, with Bitcoin (BTC) and crypto capital continuing to fuel liquidity across these platforms.

The space is getting crowded fast. Coinbase (COIN) is building a prediction product tied to Kalshi's infrastructure, and Trump-backed Truth Social announced plans to add prediction markets as part of its financial tools expansion.

When a Million-Dollar Bet Looks a Little Too Good

Now for the juicy part. Polymarket's return coincides with a market that went absolutely viral for all the wrong reasons. A prominent account called AlphaRaccoon placed millions of dollars in bets tied to Google Search trends, specifically around Google's "Year in Search" rankings.

Public blockchain data shows this trader deposited $3 million last week and started building massive positions across multiple markets linked to those rankings. The biggest win came from betting against Pope Francis and Bianca Censori in the "most searched person" market. The trader also bought early exposure to the actual winner, singer d4vd, whose shares were trading around 5 cents when these positions went down.

Observers estimate AlphaRaccoon walked away with more than $1 million across these combined markets. That's the kind of return that makes people ask questions, particularly when the timing looks suspiciously prescient.

It wasn't just one trader either. Another post on X highlighted a different account that earned over $100,000 on a Gemini market, showing how multiple traders executed aggressive bets on the platform with remarkable accuracy.

Whether this represents genuine market insight, lucky timing, or something more problematic remains an open question. But it's certainly an interesting way to kick off Polymarket's regulated US comeback.