In the past few months, Trump has made MEME coins and NFTs related to him popular. This is not difficult to understand, after all, Trump himself is involved. But there is another project that has nothing to do with Trump, but it also eats Trump's food!
According to Dune data, Polymarket's trading volume and active users have skyrocketed since May, with July's trading volume reaching $118 million, a record high for the month. The time when Polymarket's data skyrocketed and Trump's actions were highly coincidental.
Why do we say that Polymarket is a product of the King of Knowledge? To better answer this question, we must first understand what Polymarket does.
Polymarket is a 2020 project that focuses on predictions. Users can bet on the outcome of any event on Polymarket, which can be politics, current affairs, encryption, culture, economy, etc. For example, in this presidential election between Trump and Biden, you can choose to support Trump or Biden on Polymarket, and then buy the corresponding shares. The winner will get a reward, and the loser will buy 0 shares.
Simply put, Polymarket is a decentralized information market where users can make predictions about anything. Coincidentally, Trump and Biden, as well as Trump's series of actions, became the best topics on Polymarket during the US presidential election. Moreover, coincidentally, Polymarket first became popular during the 2020 US presidential election. On November 3, 2020, affected by the US election, Polymarket's trading volume suddenly reached 1.297 million US dollars, which was a blockbuster.
Polymarket not only caught the hot topics of Trump, but also, after four years of development, many hot topics were discussed on Polymarket, such as when will the Federal Reserve cut interest rates, which country will win the most gold medals at the Paris Olympics, etc. On some key issues, Polymarket will even be referenced by the media.
In short, Polymarket is good at catching hot spots and keeping up with the pace of the King of Understanding, making Polymarket the largest crypto prediction market. Perhaps, we can see Polymarket in every major event in the future. But I don’t know when this project will issue tokens?
