According to Arkham monitoring data cited by ChainCatcher, a wallet believed to be tied to crypto investment firm Arca lost $100,000 on Polymarket. On-chain records show the wallet received deposits from an Arca wallet and required its signatures, strongly suggesting Arca controls it.
The loss came from betting 'YES' on the market 'Will MicroStrategy sell Bitcoin before May 31?' MicroStrategy is the largest corporate Bitcoin holder, and its moves are heavily scrutinized. The wallet bought $100,000 of YES shares at an average of 0.5 cents each, expecting a sale. In the end, MicroStrategy did not sell, the market settled at 0, and the entire position was wiped out.
Polymarket, a Polygon-based decentralized prediction platform, lets users wager USDC on real-world outcomes. Though $100,000 is small for a whale, the public on-chain trail offers transparency. Persistent monitoring by tools like Arkham keeps such flows in the open.