The decentralized prediction platform Polymarket accumulated a nearly $900 million bet for the winner of the United States 2024 presidential election.
U.S. Vice President and Democratic presidential candidate Kamala Harris leads the way with an estimated 50% chance of winning and a bet surpassing $127 million, according to the platform. Republican presidential candidate Donald Trump comes in a close second at 49% winning odds and a nearly $144 million bet.
Trump had initially been leading Harris in the Polymarket bet, but Harris flipped Trump on Aug. 12 when the prediction market for the winner was $572 million, The Block previously reported.
Beyond the candidates, Polymarket prediction markets focus on other aspects of the 2024 presidential election, such as the likelihood of Trump saying "crypto" or other words in the debate between him and Harris. To be sure, neither candidate mentioned cryptocurrency in the Sept. 10 discussion in Philadelphia.
Start your day with the most influential events and analysis
happening across the digital asset ecosystem.
The 2024 presidential election has largely contributed to Polymarket's explosive growth in the past few months. August marked Polymarket's highest-ever number of active traders and monthly volume, bringing in 63,6200 and $472.84 million, respectively, according to The Block's Data Dashboard. The platform's cumulative volume sits at $1.75 billion as of Sept. 13.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
