The 10 highest earners on Polymarket: $122.1 million, and why only 3 are S-grade

Of the 100,898 graded Polymarket wallets, the 10 highest earners account for $122.1 million in combined P&L. Across that same graded population, 42,583 wallets are profitable and have earned $1.06 billion between them, so 10 wallets hold roughly 11.5% of all profit in the graded population. Theo4 leads with $22.1 million, and RepTrump holds the tenth spot with $7.5 million. All figures were checked against production data on July 12, 2026. The snapshot did not record last-traded dates, so it does not show how recently these wallets traded.

The grade matters more here than the profit. Only 3 of these 10 wallets carry an S grade. 7 are graded C, including the top earner. The grading system is working as built: it separates a large outcome from a proven record.

The split is clean. Every S-grade wallet in the top 10 has traded at least 2,614 markets. Every C-grade wallet has traded 45 markets or fewer, and most of them fewer than 10. The highest earners on Polymarket divide into two groups: traders who made one large, correct, concentrated bet, and a small group of high-volume operators working thousands of sports markets.

Both groups made a lot of money, but only one has shown it can do it again. Two of the 10, mintblade and frostrizz, are wallets whose trade-level history we have not finished ingesting. This article reports their profit and market count and prints no win rate or best trade for them: those numbers are not yet measured, and a zero in a database is not a fact. Every wallet on this list has a public profile page, linked from its row in the table on this page. One caveat: the public leaderboard lists only grades S, A, and B, so the 7 C-grade wallets here do not appear on it. That is the subject of this article, not an oversight.

This ranking is by total P&L, which combines realized profit from resolved markets with unrealized profit from open positions. It covers every graded wallet, a deliberately wider net than the public leaderboard, which lists only grades S, A, and B.

Theo4 leads at $22.1 million from only 14 markets, with $43.0 million in volume, an 85.7% win rate, and a single best trade of $8.3 million. swisstony is second at $18.6 million on the opposite profile: 139,432 markets traded, $1.62 billion in volume, a 60.4% win rate, and a best trade of only $770,370. Fredi9999 is third at $16.6 million from 45 markets, with a $9.7 million best trade worth more than half the account's lifetime profit.

kch123 sits fourth at $11.4 million across 2,614 markets and $293.7 million in volume, at a 54.5% win rate. RN1 is fifth at $11.1 million from 86,367 markets and $886.3 million in volume, at a 51.8% win rate and a best trade of only $224,115. No single number in RN1's profile stands out. The edge is thin and repeated tens of thousands of times.

mintblade ($9.2 million, 5 markets) and frostrizz ($8.9 million, 5 markets) take sixth and seventh. Both are real earners, but their per-trade history is still being ingested, so we report no win rate or best trade for either: the fields exist in the database as defaults, not measurements, and publishing them would be inventing data. The list closes with Len9311238 at $8.7 million from 7 markets (100% win rate, $4.3 million best trade), zxgngl at $7.8 million from 8 markets (an $11.4 million best trade, which exceeds the account's net profit because of large losses elsewhere), and RepTrump at $7.5 million from 8 markets at a 100% win rate.

5 of the 10 highest earners made their money in the 2024 US election cycle: Theo4, Fredi9999, Len9311238, zxgngl, and RepTrump. Together they account for $62.7 million of the top 10's $122.1 million. They traded between 7 and 45 markets each, and most have stopped trading entirely.

That is not a coincidence, and it is not a strategy you can copy on demand. The 2024 US election produced the highest-liquidity, highest-stakes markets in Polymarket's history, with sharp price swings around debates, polls, and news cycles. Traders who formed a strong view early, bought at a discount, sized aggressively, and held through volatility captured enormous returns from a handful of positions. Then the event resolved, and the opportunity closed.

3 of the 10 are the opposite profile. swisstony, kch123, and RN1 are high-volume sports traders, with $41.2 million between them. swisstony's profit is concentrated in soccer; RN1 spreads across esports, basketball, tennis, and soccer; kch123 works the US leagues. Together they have pushed $2.80 billion in volume through more than 228,000 markets. They do not need a once-in-a-cycle event, only liquidity and a schedule.

The remaining two, mintblade and frostrizz, are unclassified: with 5 markets each and their trade history still syncing, we cannot honestly say what they trade. So the top of the leaderboard measures at least two different achievements with the same dollar sign. One group timed a once-in-a-cycle event; the other built a repeatable process.

7 of the top 10 have traded 45 or fewer markets. Len9311238 has 7, zxgngl and RepTrump have 8, Theo4 has 14, and mintblade and frostrizz have 5 apiece. That is concentration, not diversification, and when it works it produces numbers nothing else on the platform matches.

Theo4 is the clearest example: 14 markets, $43.0 million in volume pushed through them, an 85.7% win rate (12 of 14 resolved profitably), and a single $8.3 million winner. The account has not needed to trade since. Every position is at 0xinsider.com/profile/0x56687bf447db6ffa42ffe2204a05edaa20f55839.

zxgngl is the most extreme profile on the list: 8 markets, a best trade of $11.4 million, and a net P&L of $7.8 million. The biggest winner is larger than the account's entire lifetime profit, so zxgngl also absorbed millions in losses along the way. That is what a high-variance, concentrated book looks like, and it is why a single win rate is not enough.

A 7-market or 8-market record cannot tell skill from a coin flip that landed. Len9311238 and RepTrump both show a 100% win rate, and on 7 and 8 markets that is a small sample, not evidence of an edge. The grading system reads it the same way, as the section below explains.

The three highest-graded wallets in the top 10 also have the least impressive-looking statistics. swisstony wins 60.4% of the time, kch123 54.5%, and RN1 51.8%, barely better than a coin flip. None of them has a headline trade above $1.1 million.

What they have instead is repetition. swisstony has traded 139,432 markets and $1.62 billion in volume, RN1 86,367 markets and $886.3 million, and kch123 2,614 markets and $293.7 million. A 51.8% win rate is worth nothing on 10 trades and about $11 million on 86,000.

That is how a thin, repeatable edge adds up, and it is the one approach on this list that does not depend on a specific event happening again. RN1's best trade is $224,115, roughly a fiftieth of zxgngl's, yet RN1 earned more in total, in a way that can be measured and graded.

For anyone studying the leaderboard for something transferable, these are the three profiles to read. They are also the three the grading system rates highest.

An earlier version of this article reported that all 10 of the highest earners carried an S grade. That is no longer true, and the change is worth explaining instead of quietly deleting. As of July 12, 2026, the top 10 splits into 3 S grades and 7 C grades. The S grades are swisstony, kch123, and RN1, all at 100.0. The C grades, all at 90.0, are Theo4, Fredi9999, mintblade, frostrizz, Len9311238, zxgngl, and RepTrump.

The grading model was updated in June 2026 to weight the depth of a trader's resolved-market record far more heavily. The grade is led by realized profit, but it is gated by evidence: a deep enough resolved sample, real capital at risk, a survivable drawdown, and demonstrated calibration. A wallet that made $22 million across 14 markets has produced an enormous outcome on a thin base of evidence. The model says so, and grades it C.

The result is a leaderboard where the top earner is not the top trader. Theo4 earned $22.1 million and grades C. RN1 earned half that, wins barely more than half its markets, and grades S at 100.0. Len9311238 has a perfect 100% win rate and grades C, because 7 markets is not a record. Across the whole platform only 266 wallets held an S grade.

Total P&L answers who made the most money. The grade answers whose record is deep enough to study. For the one-cycle election wallets on this list, those questions now have different answers. If you are looking for traders to study or follow, sort by grade, not by profit. The methodology is documented at 0xinsider.com/learn/how-bayesian-confidence-scoring-works.

Win rate alone explains almost nothing about who earns the most on Polymarket. The top 10 contains two wallets with a perfect 100% win rate (Len9311238 and RepTrump) and one that wins 51.8% of the time (RN1), and RN1 earned more than either of them.

Expectancy explains it: how much you make when you are right against how much you lose when you are wrong. Fredi9999 wins 64.4% of the time, but a single $9.7 million trade accounts for more than half of a $16.6 million lifetime P&L. zxgngl's biggest win, $11.4 million, is larger than its entire net profit. When one payoff dwarfs everything else in the book, the hit rate says little.

The volume traders reach the same result the opposite way. RN1's biggest trade is $224,115 against $886.3 million in volume across 86,367 markets, so no single position matters. The edge is small, consistent, and repeated across the whole book. Both are legitimate ways to make eight figures, but only one produces a record deep enough to show the edge was ever there.

That is the practical lesson in this leaderboard. A high win rate on a handful of markets is one result. A modest win rate across tens of thousands of markets is a record, and the grades tell you which one you are looking at.

These 10 wallets sit at the top of a graded population of 100,898 traders, each with a public profile on 0xinsider. (Two of them, mintblade and frostrizz, sit outside the 34,935 whose trade-level history we have fully ingested, which is why this article reports their profit but not their win rate.) The leaderboard at 0xinsider.com/leaderboard sorts by P&L, grade, volume, win rate, and category, but it lists only S, A, and B grades: it is a shortlist of traders worth watching, not a rich list. That is why the three S-grades on this page are the ones to study, and why the 7 C-grades are on the page at all.

Every trader profile carries the analytics behind this piece: total P&L, realized and unrealized splits, win rate, volume, markets traded, grade with component scores, strategy classification, average span from first to last trade in a market, whole-cent fill share, best and worst trades, Sharpe percentile, profit factor, and benchmark score. The whole-cent fill share describes prices; it does not identify maker or taker roles. Pro subscribers can export any trader's full trade history as JSON at 0xinsider.com/datasets.

The top 10 has already turned over. Against our April 2026 snapshot, four wallets are new: swisstony, kch123, mintblade, and frostrizz. Four have dropped out: PrincessCaro, KeyTransporter, BetTom42, and mikatrade77. The political group is largely inactive after banking its 2024 gains. The sports operators are still trading, which is why they keep climbing.

Every trader here earned their position through on-chain results, not follower counts or self-reported returns. The grades show which of those results have a record deep enough to repeat.