Polymarket trader exploits UFC blunder, turns $676 into $67,000 in under a minute
A Polymarket trader made nearly a 100x return by betting on the correct UFC winner seconds after an announcer's error.Summary
A trader on the decentralized betting platform Polymarket, known as LlamaEnjoyer or Verrissimus, achieved a nearly 100x return, turning approximately $676 into $67,000 in under a minute. This occurred during a UFC heavyweight bout where announcer Bruce Buffer mistakenly declared Marcin Tybura the winner over Tyrell Fortune. When the incorrect result was announced, shares for Tybura spiked to near 99 cents while Fortune's collapsed to about 1 cent. LlamaEnjoyer bought $676 worth of Fortune shares at 1 cent, narrowly avoiding a much larger bet on the incorrect winner. Seconds later, the UFC corrected the announcement, causing Fortune's shares to jump to $1, realizing the massive profit. The incident highlights how rapidly prediction market prices can fluctuate based on live-event errors and raises questions about contract settlement reliance on potentially flawed 'source of truth' information.
(Source：CoinDesk)