#Bloomberg will add Polymarket’s #election odds to its Terminal service, according to an August 29 update from Michael McDonough, Bloomberg’s chief economist.
This move underscores the rising role of prediction markets and Web3 technologies in traditional finance.
Polymarket, built on the Polygon blockchain, allows bets on various events and has seen August trading volumes near $450 million. Bloomberg’s Terminal will now feature Polymarket’s odds for the US presidential election, alongside other data sources like PredictIt.
Currently, nearly $760 million has been bet on the November 4 election, with Polymarket showing Donald Trump slightly ahead of Kamala Harris.
The platform faces competition from Drift Protocol’s BET platform, which recently surpassed Polymarket in daily trading volume. In August, Polymarket users accurately predicted that Robert F. Kennedy Jr. would exit the presidential race before September 2024.