Polymarket Trader Loses 1.2M After Betting on Argentina in World Cup
A Polymarket trader known as gud.hl lost 1.2 million dollars after betting on Argentina to win the 2026 World Cup. Spain eliminated Argentina 1-0 in extra time, erasing the trader's position. Blockchain analytics firm Bubblemaps reported that much of the initial bet came from a Solana address that made 1.9 million dollars trading $TRUMP tokens at launch. Gud.hl bought approximately 12 million Argentina shares at an average price of 0.1 dollars each, making it the largest single position backing the team on Polymarket. A win would have delivered an 11.2 million dollar payout. Argentina had previously beaten England 2-1 in the July 15 semifinal, causing the position to surge. Instead of cashing out, the trader held the position through the final. Spain scored through substitute Ferran Torres in extra time, ending Lionel Messi's title defense and wiping out gud.hl's stake. Bubblemaps traced the funding for the wager to a separate Solana wallet that flipped $TRUMP shortly after its January 2025 launch, pocketing 1.9 million dollars. This incident reflects a trend where traders cash out memecoin gains to invest in prediction market bets, with gud.hl turning a six-figure crypto gain into a seven-figure loss in one tournament.
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