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.
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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.