Polymarket, a decentralized prediction market platform enabling cryptocurrency users to bet on global events, has seen only 12.7% of user wallets making profits, as per recent data. Out of 171,113 crypto wallets on Polymarket, 87.3% did not yield profits. Only 21,730 wallets, or 12.7%, reported confirmed profits. Notably, just 2,138 users made over $1,000 in profits, with the majority earning less than $100. The platform has facilitated around 10.8 million betting trades, with a surge in daily trades due to current world events like geopolitical tensions and the U.S. presidential election. It's essential to recognize that some traders operate multiple wallets to enhance profit opportunities. While nearly 25,000 wallets engaged in over 50 trades, around 58,000 wallets made only one to five trades. As of writing, Polymarket's open interest stands at $161.1 million. Elon Musk even suggested that Polymarket could predict future election results more accurately than traditional polls. Read more AI-generated news on: https://app.chaingpt.org/news