A Polymarket trader identified as 'fuxfux007' suffered a significant loss of $969,169 after incorrectly betting against Zohran Mamdani's victory in the New York City mayoral election. The election, which attracted record voter turnout, saw a substantial $424 million in betting volume on Polymarket, with the platform accurately predicting Mamdani's win. In contrast, another trader, 'debased', profited $188,487 by betting on Mamdani's success. Concerns about potential market manipulation were raised by billionaire Bill Ackman, reflecting similar issues noted during the 2024 U.S. election.