A Polymarket trader lost $2.36 million in 8 days, despite a win rate of nearly 50%, and still suffered a margin call.

Over the past eight days, the company made 53 sports-related prediction trades. Despite a 47.2% win rate, it still suffered losses of up to $2.36 million due to high leverage and a lack of risk control. Most of its bets ranged from $200,000 to $1 million, with almost no hedging. Losing trades wiped out all profits, meaning that a few mistakes could wipe out all gains.