Polymarket Bets on U.S. Presidential Election Soar to $1 Billion.
The decentralized prediction platform Polymarket has seen a massive surge in betting, with over $900 million already staked on who will become the next president of the United States.
Leading the race is current U.S. Vice President and Democratic candidate Kamala Harris, who holds a 50% chance of winning, with more than $127 million backing her victory. Close behind is former President and Republican candidate Donald Trump, with odds of 49% and nearly $144 million wagered in his favor. While Trump initially led the betting on Polymarket, the tides shifted just a few days ago.
But it's not just about the presidential race. Polymarket users are also making predictions on various aspects of the election, such as the likelihood of Trump mentioning "cryptocurrency" during a debate with Harris on September 10 in Philadelphia.
With the U.S. presidential election driving user engagement, Polymarket has experienced explosive growth. August 2024 marked its busiest month, with 63,620 active users and betting volumes surpassing $472.84 million.
What are your thoughts on this surge in political betting? Could these predictions influence the election outcome? đ
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