“On crypto-based prediction market platform Polymarket, Biden's re-election chances have not changed significantly.🤔 'yes' shares for Biden were trading at 11 cents immediately after the ABC News interview. Each share will be worth $1 (USDC, the dollar equivalent) if the prediction is correct. So, a price of 11 cents indicates that the market believes the current president has an 11% chance.📉

A month ago, shares were trading at 36 cents. They fell after Biden's disastrous performance in the debate against Trump.📉

For a separate convention on who will win the Democratic nomination, Biden's odds rose just one percentage point after publication, to 42%. There is a bet of $89 million in this contract.📈

Volume at four-year-old Polymarket has skyrocketed this year as November's US election fuels enthusiasm for political betting. June was the platform's first month with more than $100 million in volume.🚀

However, on-chain prediction markets have limitations. They only reflect the opinions of individuals active on the blockchain. With crypto becoming an increasingly partisan political issue and Polymarket being crypto-only, Polymarket's political markets may be skewed by the pro-crypto biases of its participants.🤔

What are you thinking? We are waiting for your comments!😉#DeFi#Web3"