Trader Loses $1 Million on Cabo Verde’s Stunning World Cup Tie

A trader on Polymarket lost nearly $1 million betting on Spain to win against Cabo Verde in a FIFA World Cup match, which ended in a stunning 0-0 draw. Spain had been heavily favored with average implied odds of around 92% on the platform. Polymarket saw $64 million in total trading volume on the Spain-Cabo Verde match, highlighting the growing scale of cryptocurrency-based prediction markets for global sporting events.