Crypto tracking platform Lookonchain has highlighted three wallets that reportedly made a combined $24.25 million from World Cup betting on Polymarket, raising new questions about how some traders consistently achieve huge profits in prediction markets.
According to Lookonchain, the wallets known as mintblade, GRIMDRIP, and endlessFate generated millions of dollars by successfully betting on World Cup outcomes. The platform suggested that all three wallets may belong to the same person because they reportedly sent funds to the same Binance deposit address after cashing out their winnings.
The biggest winner was mintblade, which reportedly earned $9.24 million after winning all five of its bets. GRIMDRIP made around $7.6 million from two successful bets, while endlessFate generated about $7.41 million after winning six out of nine positions.
Lookonchain noted that after securing these profits, the wallets stopped trading and withdrew their remaining funds. Based on the wallet connections and trading activity, the platform described the trader as a possible insider, although there is currently no public evidence proving any wrongdoing.
The unusual trading activity first attracted attention earlier this month when Lookonchain reported that one trader earned $9.24 million in a single day from several successful World Cup wagers. Other large bets also surfaced, including multi-million-dollar positions on matches involving countries such as Colombia, Uzbekistan, Argentina, Algeria, Australia, and Türkiye.
The situation has added to the ongoing debate surrounding prediction markets like Polymarket and Kalshi. Supporters argue that these platforms simply reflect public expectations and allow users to trade based on their opinions and research. Critics, however, worry that people with access to private or non-public information may gain an unfair advantage.
Regulators and lawmakers have also become more interested in prediction markets. Concerns about insider-style trading and market fairness have already led to discussions in the United States about limiting or restricting certain types of participation on these platforms.
At the same time, World Cup prediction markets have become increasingly popular across the crypto industry. Exchanges and betting platforms have launched contests, promotions, and special trading markets tied to the tournament, attracting significant user activity and trading volume.
For now, Lookonchain’s findings do not prove that any rules were broken. However, the case shows how blockchain data can reveal unusual trading patterns, connections between wallets, and profit-making strategies that might otherwise go unnoticed.
As prediction markets continue to grow, questions about transparency, fairness, and the role of private information are likely to remain a major topic of discussion.
