Nigel Farage ally's secret Polymarket bets win and lose millions in days

From a $3.5M Trump windfall to a half-million-dollar Iran gamble gone wrong. Who's behind the high-stakes political bets rocking crypto circles? The trail leads to Farage's inner circle.

, and Administrator

2026 May 20 . 11:11 PM

1 min read

The image shows a white background with a pie chart depicting the crypto-currency market... — The image shows a white background with a pie chart depicting the crypto-currency market capitalizations in 2016. The chart is divided into sections, each representing a different type of cryptocurrency, such as Bitcoin, Ethereum, Litecoin, and Litecoin. The text accompanying the chart provides further details about the capitalizations.

Nigel Farage ally's secret Polymarket bets win and lose millions in days

A mysterious Polymarket account linked to a close ally of Nigel Farage has made and lost millions in high-risk political bets. The 'GCottrell93' account earned nearly $3.5 million from a wager on Donald Trump’s 2024 election victory but suffered heavy losses after a failed bet on U.S. military action against Iran. The account, believed by blockchain investigator ZachXBT to belong to George Cottrell, placed a $550,000 bet against a U.S. strike on Iran by February 28, 2026. When American forces attacked Iran on that exact date, the position collapsed, wiping out the stake. Earlier, the same account had lost another $125,000 after betting that UK Prime Minister Keir Starmer would leave office by the same deadline.

Cottrell, a former associate of professional betting syndicates, has a controversial past. In 2016, he was arrested on charges including money laundering, wire fraud, and extortion. More recently, in 2026, he published a book titled *How To Launder Money*. His political ties remain strong, with Reform UK—where he holds influence—becoming the first major British party to accept cryptocurrency donations in mid-2025. Despite the recent setback, the 'GCottrell93' account had previously seen major success. Its largest win came from a bet backing Trump’s return to the White House, netting millions in profit.

The account’s mixed record reflects Cottrell’s history of high-risk financial moves. While the Iran bet cost over half a million dollars, earlier gains from political gambling kept the overall balance positive. The incident also highlights the growing intersection of crypto betting, politics, and controversial figures in British public life.