When I think of Polymarket, the cryptocurrency-based betting site, I think of Trump. I think of Zyn-housing, Bitcoin-slash-shitcoin-trading young men absorbing antisocial content with nihilistic politics they pretend aren't actually politics, and who reflexively dismiss ideas like a democratic socialist becoming the Democratic candidate for the mayor of New York. (Isn't the "smart money" betting on other candidates?) So when I saw that there was a gambling line for the Democratic primary—and that Zohran Mamdani’s odds were low—it got me wondering: Who are the Zohran Mamdani bettors of Polymarket? Who spends enough time in this online world, but is also willing to put money down on a lefty politician shocking the political establishment? So I asked Reddit, and got one answer in the form of “J,” a Canadian communist lawyer who won about $10,000 in profits on Zohran's victory. (We are referring to "J" by a pseudonym because he fears professional repercussions.) I spoke with J via a WhatsApp call to find out how and why he did it.
We think J's story is interesting, but it's not an endorsement of gambling (especially on Polymarket)—your mileage may (and probably will) vary. If you have a gambling addiction, refer to these national resources. This interview has been lightly condensed and edited for clarity.
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