RoaringKitty a GameStop Billionaire by Friday? Crypto Traders Are Placing 50% Odds

A new market on betting application Polymarket has seen over $120,000 in trader placed on Keith Gill making ten figures on his GameStop equity and options holdings.

AccessTimeIconJun 7, 2024 at 8:21 a.m. UTC
  • Market watchers expect Keith Gill, known as Roaring Kitty, to potentially reach a billion-dollar position in GameStop stock by Friday.
  • Polymarket bets on Gill becoming a billionaire have gained traction, with "yes" odds rising to 50.

Market watchers are widely backing retail stock trader Keith Gill to clear a billion dollars on his GameStop (GME) stock positions by Friday in what could become one of the biggest meme-stock trading success stories.

Gill, popularly known by his X account @TheRoaringKitty and Reddit account “DeepF*ckingValue” aliases – he doesn't use an asterisk on the platform – flashed a $583 million position in a Reddit post on Thursday, showing $382 million in profit across options and equity positions. GME stock added 47% to $46 yesterday and surged to $61 in after-hours trading.

Followers on Reddit quickly did the math and calculated that GME needed to add just $9 on Friday to give Gill a billion-dollar exposure to the video game retailer's stocks.

Polymarket bets on Gill clearing the 10-digit mark on his brokerage account have quickly found favor among investors. The “Roaring Kitty billionaire by Friday?” market has racked up $120,000 in bets since going live late on Thursday, with “yes” odds climbing since early Asian hours on Friday – reaching 50%.

“If GME hits 70$, the intrinsic value of his position would reach a billion. (5m shares * 70$) + (12m shares from calls * (70$ - 20$ strike)),” said user “etj103007,” who purchased 15,000 shares in favor.

“I believe in Roaring Kitty,” said another user who held 1,000 “yes” shares.

Odds of Roaring Kitty having a billion dollars in exposure to GameStop stock. (Polymarket)
Odds of Roaring Kitty having a billion dollars in exposure to GameStop stock. (Polymarket)

The market will resolve to “yes” if @TheRoaringKitty announces that he is a billionaire or otherwise shows a brokerage position of at least $1 billion dollars in value by 11:59 PM ET tonight. The resolution source for this market will be information from Gill or his known social accounts.

Meanwhile, a spoof GME token on the Solana blockchain has racked up nearly $200 million in trading volumes in the past 24 hours, largely driven by Gill’s social updates. Related meme roaring kitty (KITTY) rose 220%, CoinGecko data shows.

Edited by Sheldon Reback.


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Shaurya Malwa

Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.

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