A Polymarket trader suffered a $2.36 million loss over eight days after making 53 predictions, with a win rate of 47.2%. The trader focused on sports markets, including NFL, NBA, NHL, and NCAA, frequently engaging in spread markets. Positions were typically bought at 40–60¢, with bet sizes ranging from $200,000 to over $1 million, and were held to settlement without hedging or scaling. The trader's strategy involved high-conviction, all-or-nothing bets, where winning trades returned 60% to 150%, but losing trades resulted in a complete loss. This approach proved unsustainable, as just a few losing bets were enough to erase all prior gains. The case highlights the importance of risk management in prediction markets, where high variance and lack of position limits can lead to significant financial losses.