- Polymarket surpasses $1 billion in buying and selling, pushed by way of US election making a bet surge.
- Trump leads with 57% odds; Harris’s odds upward push to 40% after Biden’s withdrawal.
- Sequence B investment of $70 million and MoonPay partnership spice up Polymarket’s platform expansion.
Polymarket, a number one crypto making a bet platform, has accomplished an important milestone, surpassing $1 billion in buying and selling quantity.
This surge has been in large part pushed by way of intense hypothesis surrounding the approaching United States presidential election.
Donald Trump main with 57% odds
In step with Dune Analytics, Polymarket’s guess buying and selling quantity reached $1,051,670,878 million by way of July 31, a considerable building up from $111 million in June and $63 million in Would possibly.
Nearly all of this task has been fueled by way of wagers on the United States presidential election set for November 4, with over $458 million guess at the result thus far.
Recently, former President Donald Trump holds a powerful lead with 57% odds, whilst Vice President Kamala Harris has noticed her odds fortify considerably to 40%, following President Biden’s surprising withdrawal from the race.
Polymarket has grown significantly however stays unavailable to American customers
Whilst Polymarket is predominantly used for making a bet on political results, the platform additionally provides markets on numerous subjects, together with cryptocurrency, sports activities, trade occasions, and the 2024 Olympic Video games.
The platform’s expansion has been additional reinforced by way of a $70 million Sequence B investment spherical led by way of Peter Thiel’s Founder Fund on Would possibly 14, with participation from Ethereum co-founder Vitalik Buterin.
To make the platform extra obtainable, Polymarket partnered with bills platform MoonPay on July 24. This collaboration permits customers to make deposits the use of debit and bank cards, streamlining the onboarding procedure for the ones outdoor the cryptocurrency group.
Including to its credibility and experience, Polymarket enlisted election analyst and statistician Nate Silver as an adviser on July 16.
Curiously, regardless of its focal point on US occasions, Polymarket stays unavailable to American customers.
With its numerous vary of prediction markets and a rising world target audience, Polymarket continues to thrive as a number one vacation spot for speculative making a bet, attracting customers eager about a wide selection of subjects.