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Home»ADOPTION NEWS»Polymarket Approaches $1 Billion in Betting on 2024 Presidential Election Winner
ADOPTION NEWS

Polymarket Approaches $1 Billion in Betting on 2024 Presidential Election Winner

By Crypto FlexsSeptember 14, 20242 Mins Read
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Polymarket Approaches  Billion in Betting on 2024 Presidential Election Winner
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Polymarket, a decentralized prediction platform, has amassed nearly $900 million in bets on the winner of the 2024 US presidential election.

According to the platform, US Vice President and Democratic presidential candidate Kamala Harris is leading with a 50% win rate and over $127 million in bets. Republican presidential candidate Donald Trump is in second place with a 49% win rate and nearly $144 million in bets.

The Block reported that Trump initially had a lead over Harris in the polymarket betting, but Harris overtook Trump on Aug. 12 when the market for a Trump winner was $572 million.

In addition to the candidates, the Polymarket prediction market focuses on other aspects of the 2024 presidential election, such as the likelihood that Trump will say “cryptocurrency” or another word during his debate with Harris. Of course, neither candidate mentioned cryptocurrencies during the September 10 debate in Philadelphia.

The 2024 presidential election has contributed significantly to the explosive growth of Polymarket over the past few months. According to The Block’s data dashboard, August marked Polymarket’s highest ever number of active traders and monthly volume, reaching 636,200 and $472.84 million respectively. The platform’s cumulative trading volume reached $1.75 billion as of September 13.


Disclaimer: The Block is an independent media outlet providing news, research and data. As of November 2023, Foresight Ventures is the largest investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information on the cryptocurrency industry. Below are the current financial disclosures.

© 2024 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be legal, tax, investment, financial or other advice.

About the Author

MK Manoylov has been a reporter for The Block since 2020, joining just before Bitcoin first broke $20,000. Since then, MK has written nearly 1,000 articles for the publication, covering all aspects of crypto news but with a penchant for NFTs, metaverse, web3 games, fundraising, crime, hacking, and crypto ecosystem stories. MK holds a graduate degree from the Science, Health, and Environment Reporting Program (SHERP) at New York University and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.

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