Multi-market activity surges to record levels in US, Euro 2024 election campaign

Polymarket is experiencing a surge in activity amid a ramping up US election campaign and massive funding round.

Token terminal data shows that the number of weekly active users hit a record high on June 11 at more than 11,000, while the number of monthly users is now at a record high of 25,500, reflecting reflects growing interest from the cryptocurrency community.

Polymarket is a decentralized prediction market powered by Polygon. The platform allows cryptocurrency holders to speculate on the outcomes of current and future events related to politics, sports, and other fields.

As the US election approaches, many cryptocurrency holders are making predictions on which of the two candidates, current President Joe Biden and former President Donald Trump, will win the election. important battle later this year. On Thursday, June 27, Biden and Trump will have their first presidential debate in Atlanta, which could cause significant fluctuations in the odds. 

Another major event that could help boost this activity is the European Football Championship being held in Germany, which begins on June 14.

Last month, Polymarket announced that it had raised $70 million from investors such as Peter Thiel (through Founders Fund), Vitalik Buterin and Polychain Capital. Interestingly, Polymarket said it raised the money in two separate rounds