He was nabbed by police was dragged away wearing an additional item, a pair of handcuffs.
Rodriquez was held this afternoon at Police Heaquarters awaiting a bail hearing.
The White House declined to comment.
It was unclear this afternoon whether Rodriguez will collect the $1 million.
"We're waiting to review all the video footage and we'll be back with a statement tomorrow," said Alki David, the British billionaire behind the website.
The rules of the challenge - issued last month - included shouting the name of the website six times. The streaker also had to be within view and hearing range of the president.
"Whether he was in earshot and eyesite of the president is what's being debated right now," David said.
When asked why he put up the money, David was forthright. It was for the free publicity.
"Streaking is an age-old tradition and it's one that does get attention. You marry a naked person and Mr. Obama together in one event and it's very good," David said. "I have to make it very clear, however, that I'm quite a fan of the president. It has nothing to do with him."
TV reporters were gathered outside Police Headquarters this afternoon awaiting jaybird's release if he is able to post bail.
He won't leave the building in his birthday suit, Police Sgt. Ray Evers said.
"We gave him a pair of scrubs," Evers said. "He'll be well covered."
In another incident at the rally Sunday, the Secret Service detained an unidentified man after he threw a paperback book onto the stage as Obama was speaking.
He was interviewed and determined to be an "over-exuberant" supporter of the president's, who hoped that Obama would pick up and read a book that he had written, a Secret Service spokesman said. No charges were filed and the man's name was not released.
Staff writer Thomas Fitzgerald contributed to this article.
Contact staff writer Sam Wood at 215-854-2796 or firstname.lastname@example.org.