The presidential election in #EstadosUnidos was a very important event, where people's attention was focused on the possible candidates who could emerge victorious. Thus, the prediction market was not oblivious to this, and some ventured to bet on the preferred candidate. This was seen more closely in Polymarket as election day approached. How did some traders who ventured to bet fare? Let's explore.
For those who do not yet know Polymarket, this is a #mercado of predictions, where you can literally bet on any result, such as in the political, sports, science sectors, among others.
This prediction market uses #USDC on the #Polygon network for betting, which is why you need to register with one of your wallets to deposit the USDC you want to bet.
In the last few days leading up to the US elections, this prediction market was in the spotlight, due to the amount of volume it had generated regarding bets on the US elections. This can be seen in the chart provided by Dune, where an increase in daily volume can be seen in the last few days.
This was also mentioned by some international media such as Forbes, Fortune, Coindesk, Cointelegraph among others.
Some investors dared to bet millions on the outcome of the US presidency. While some won, others lost due to the final result.
One of them was a wallet on Polymarket labeled “Wallet Mobile”, where this user decided to bet until the last hours before the elections. This user bet close to 10 million dollars in USDC that #Trump would be the new president of the United States. With the final result and the position already sold, this user earned close to $5.94 million dollars.
Another slightly more daring user also decided to bet on Trump. This user, labeled “Theo4,” decided to bet 18.6 million USDC in favor of Donald Trump for the presidency of the United States. The final result earned him more than $20 million dollars.
There is also the other side of the story, where someone decided to bet on Kamala Harris and it didn’t work out as expected. This user labeled “TheRealTaylorSwift” bet approximately $6.76 million in USDC that Donald Trump would not be elected President of the United States by popular vote, an event that did not occur. This is why this user has lost 6.76 Million in USDC.
This is just a sample of some of the moves some investors made ahead of the US presidential election. There is no doubt that bets in the crypto prediction market have increased, and could continue to do so in the face of future events.
I personally have not used this protocol yet, but I may do so in the future, as Polymarket does not yet have its own token and may have one in the future. Always remember to do your own research.
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