Two Polymarket traders lost a combined $2.7 million on Saturday after backing Manchester City and Chelsea, both of whom were beaten by underdogs in Premier League matches. The first of the two seven-figure losses came at lunchtime, according to the prediction market's transaction records.
One of the traders, identified on the platform as 3edmond.dantes, bought positions between 10:33 UTC and the 11:30 UTC kickoff at Villa Park on Oct. 24. That window places the trades in the hours before Manchester City's match against Aston Villa, which ended in a defeat for the reigning champions.
A single morning of accumulating City exposure
The trade history shows 3edmond.dantes kept buying over roughly an hour, right up to kickoff. It wasn't a single large wager but a series of positions added as the match approached. When City lost, the entire stack went to zero. The timing — 10:33 to 11:30 UTC — lines up exactly with the pre-match window at Villa Park, where the home side pulled off the upset.
Polymarket's markets settle on match outcomes, and the trader had clearly picked the favorites. That's a common approach on prediction markets: back the stronger team at shorter odds, then collect if form holds. On Saturday, form didn't hold.
Chelsea adds a second seven-figure hit
The second loss came from a trader backing Chelsea, who also fell to an underdog. Details of that position weren't immediately available beyond the seven-figure sum, but the combined damage across the two accounts reached $2.7 million.
Both losses hit on the same day, which is unusual for Polymarket's football markets, where large positions are typically spread across different matchweeks. Saturday's slate produced two separate upsets, and both fell on the side of the favorites.
How the losses stack up on Polymarket
Polymarket doesn't disclose the identities of its traders, and 3edmond.dantes is a pseudonymous handle. The platform's public trade log makes the timing and size of the positions visible, but not the person behind them. That's standard for the crypto-based prediction market, where users connect wallets rather than named accounts.
The $2.7 million figure covers just these two traders. It doesn't reflect the total volume wagered on the matches or the broader losses across the platform on Saturday.
What happens to the losing positions
Losing positions on Polymarket resolve to zero when the market settles. There's no partial payout. For 3edmond.dantes, that means the full amount committed between 10:33 and kickoff is gone. The market for the Villa Park match would have resolved shortly after the final whistle.
Polymarket hasn't commented on the individual trades, and there's no indication either trader plans to contest the outcomes. The results on the pitch were clear.
The next round of Premier League fixtures will give both traders — and the rest of Polymarket's football market — a fresh set of prices to work with. Whether 3edmond.dantes returns to back City again at Villa Park next season is an open question. For now, the ledger shows a seven-figure position opened in a single morning and settled in a single afternoon.
