A Single Bet Gone Wrong: How One Trader Lost $4.2 Million in a Day

New York, Tuesday, 16 June 2026.
A high-stakes trader on Polymarket lost $4.2 million in under 24 hours during the 2026 World Cup, showcasing the extreme risks of unregulated sports betting. The losses, from two failed bets on the Netherlands and Belgium, highlight the volatility of decentralized prediction markets—and the urgent debate over their oversight.