The likelihood of Ross Ulbricht, founder of the darknet marketplace Silk Road, being pardoned by U.S. President Donald Trump within the first 100 days of his term has soared to 97% on Polymarket.
The volume of bets has risen to $8.9 million.
The surge was catalyzed by a tweet from Elon Musk stating that Ulbricht would be freed. Prior to this, the odds on Polymarket were estimated at 54%.
Ross will be freed too
— Elon Musk (@elonmusk) January 21, 2025
U.S. authorities arrested the founder of Silk Road in October 2013. In May 2015, U.S. District Judge Katherine Forrest sentenced Ulbricht to double life imprisonment without the possibility of parole.
He was found guilty of drug trafficking via the Silk Road darknet marketplace, conspiracy to transport drugs, hacking computer networks, money laundering, and leading a criminal organization.
In December 2017, Ross Ulbricht announced his intention to appeal his sentence to the U.S. Supreme Court. He claimed that his rights were violated during the investigation and trial. However, in June 2018, the Supreme Court rejected the petition.
At that time, organizers of the Free Ross Ulbricht campaign posted a petition on Change.org urging U.S. President Donald Trump to pardon the Silk Road founder. He was not included in the list of 73 individuals approved by the head of state in January 2021 before the end of his term.
According to court documents, the darknet marketplace’s sales volume reached 9,519,664 BTC. From February 2011 to July 2013, the platform received 600,000 BTC in commissions.
The Ulbricht case attracted widespread public attention. According to the Free Ross website, more than 250 organizations, notable individuals, and opinion leaders have spoken out for his release. In 2019, renowned venture capitalist Tim Draper was among them.
Later, Musk stated that the sentence for the Silk Road creator was excessively harsh.
In May 2024, Trump promised to free Ulbricht on his first day in office.