Kamala Harris and Trump are Neck and Neck on Polymarket🗳️
Vice President Kamala Harris and former President Donald Trump are now neck and neck at 49% odds on Polymarket, the top crypto prediction platform. This shift comes as the race heats up, with over $541 million already bet on the site.
The change happened after Harris chose Minnesota Governor Tim Walz as her running mate, which caught a lot of people off guard since many thought Pennsylvania Governor Josh Shapiro would be the pick. As a result, Harris's odds jumped from 30% to tie with Trump and his partner J. D. Vance, who recently campaigned in Michigan alongside Harris and Walz.
Polymarket's odds and probabilities are highly reactive to breaking news, like the recent assassination attempt on Trump. However, Harris's choice of Walz over Shapiro suggests that prediction markets might not always capture every twist and turn.
Interest in the 2024 election has driven traders to Polymarket, leading to record trading volumes of $1 billion monthly for the first time, with July alone racking up $343 million. That’s a significant jump from June and a massive 440% increase compared to May 2024, which saw only $63 million.
Despite its growing popularity, Polymarket faces challenges in making money. Some U.S. senators and representatives are pushing for a ban on election betting, raising concerns that big bets could threaten democratic values. So, this intriguing story is just beginning.💥
