According to Odaily, Coinbase's senior software engineer, yuga.eth, has reported a significant increase in the probability of Joe Biden becoming the Democratic candidate on the Polymarket platform. The likelihood, which was at 45% earlier today, has surged to 74%. This information was shared by yuga.eth on platform X.
Polymarket is a decentralized prediction market platform where users can bet on the outcome of future events. In this case, the event in question is the potential nomination of Biden as the Democratic candidate. The sudden rise in the probability indicates a shift in the market's prediction, reflecting a growing confidence among users in Biden's potential nomination.
It's important to note that these percentages are not definitive and can fluctuate based on the bets placed by users on the platform. As such, while the current surge in Biden's predicted nomination is noteworthy, it does not guarantee his nomination. The final decision will be determined by the Democratic Party's nomination process.