A Polymarket trader suffered a $3.6 million loss betting on Mike Tyson in Friday's Netflix-streamed boxing match against Jake Paul, shortly after winning $11 million on a Donald Trump political bet.

The trader, known as "zxgngl," purchased over 11 million shares at approximately 33¢, representing one-third odds. Despite this loss, they remain Polymarket's fourth-highest earner thanks to their previous Trump wager.

The boxing match drew controversy from its announcement, with critics questioning the ethics of pitting a 58-year-old Tyson against 27-year-old Paul. Special conditions were implemented, including 14-ounce gloves for Paul and shortened two-minute rounds.

Nine state gaming regulators, including New York and Pennsylvania, prohibited their licensed sportsbooks from taking bets on the fight, citing nontraditional rules and scripting concerns. These concerns intensified when a fake fight script circulated on social media before the event.

The actual fight proved underwhelming, with crowds booing the lack of action in later rounds. While Paul entered as the favorite with 63.5% odds on Polymarket, more money backed Tyson, suggesting viewers hoped to see the former heavyweight champion prevail. The event generated over $63 million in total wagers on Polymarket.

Tyson's last professional fight was in 2005, when he retired after losing to Kevin McBride. The Paul match was initially scheduled for July but was delayed due to Tyson experiencing health issues, including an ulcer flareup during a flight from Miami to Los Angeles.

Related Articles

Previous Articles