"Less than 22 hours before the viral announcement dropped, a Polymarket user by the name of "romanticpaul" evidently began to feel increasingly confident that Kelce and Swift would get hitched, betting that the couple would get engaged by 2025. Polymarket is a prediction market platform that allows traders to bet on the outcome of future events such as sports competitions, elections, and pop culture. Since December 31, 2024, Polymarket users have been able to bet on whether Swift and Kelce would get engaged in 2025."
"Then, at around 12 p.m. PT on Monday, the user went on another buying spree, starting with 199 "Yes" shares at $.30 apiece. For the uninitiated Polymarket user, the payout for any outcome is no more than a dollar. In this case, romanticpaul would profit $.70 for each share if Swift and Kelce got engaged by the end of the year. In total, the user purchased 1,708 shares that day most of them priced under $.40 each."
Taylor Swift and Travis Kelce announced their engagement on Instagram at 10:00:35 a.m. PT. A Polymarket user named romanticpaul had been buying Yes shares on the outcome that the couple would get engaged by 2025, first purchasing shares on July 31. Around 12 p.m. PT on Monday the user bought 199 Yes shares at $0.30 apiece and amassed 1,708 shares that day, most priced under $0.40. Polymarket pays up to $1 per winning share, so romanticpaul would profit $0.70 per share. Additional bets appeared at 9:46 a.m. PT on Tuesday, shortly before the Instagram post, yielding a profit of more than $3,000.
Read at www.businessinsider.com
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