Polymarket user loses ~$300K betting on Seoul mayoral election

An anonymous address (beginning with 0xad3D) on the prediction market Polymarket is facing a loss of around $300,000 (459 million won) from failed bets on the Seoul mayoral election. The address bet approximately 232,604 shares against the election of Oh Se-hoon of the People Power Party, resulting in a loss of about $200,000. It also bet 120,176 shares on the victory of Chung Won-oh of the Democratic Party, leading to an additional loss of around $100,000. According to multiple South Korean media outlets, Chung was initially favored to win, but Oh took the lead around 10:00 p.m. UTC on June 3. With over 97% of the votes counted, Oh is currently ahead of Chung by more than 20,000 votes.