Polymarket Records Over $1 Billion in Trading Volume This Month
If you’re following the US presidential elections drama between Trump and Harris, you need to know that Polymarket, the crypto prediction market, has hit a major milestone! This platform has seen an unprecedented trading volume of over $1 billion this year. Here’s a breakdown of what’s been happening:
- In July alone, Polymarket recorded a trading volume exceeding $1 billion, setting a new record.
- From January to June, the platform saw volumes around $350 million.
- The surge in bets on the US presidential election in July drove this spike in crypto trading.
Increased AUM and Diverse Bet Options on Polymarket
While the focus remains on the Trump vs. Harris showdown, the assets under management (AUM) on Polymarket have more than doubled in the last month, growing from $6 million to $13.39 million. Additionally:
- A significant amount of this AUM is in the stablecoin USDC.
- Polymarket offers betting options not just on politics but also sports, Olympics, crypto, business, and more.
US Presidential Elections: Trump Leads Over Harris on Polymarket
As of today, Polymarket data reveals that Donald Trump is currently the favored candidate in the US presidential elections with a 57% chance of winning, while Kamala Harris trails at 39%. Other candidates like Robert F. Kennedy Jr. and Michelle Obama have minimal support:
- Over $429 million have been bet on the potential winner of the US presidency.
- Recent trends show a slight decrease in Trump’s favorability and a slight increase in Harris’s chances.
Geographical Voting Patterns and Market Restrictions
Interesting insights can also be drawn from the geographical distribution of pro-Trump and pro-Harris voters across different US states. While most states exhibit strong political leanings, a few remain less polarized:
- States like Florida, Kansas, and Texas strongly favor Trump, while California and New York lean towards Harris.
- Notably, Polymarket is not available to American users due to regulatory constraints.
Polymarket Introduces “The Oracle” Newsletter Alongside Paris Olympics
Amid the US election fervor, Polymarket is upping its game by launching a new newsletter called “The Oracle” and making key integrations:
- Expert electoral analyst Nate Silver joins Polymarket to enhance forecasting accuracy.
- MoonPay integration simplifies user onboarding for crypto bets.
The newsletter coincides with the Paris Olympics and offers real-time updates on diverse subjects, enabling informed betting decisions across various events – from sports to politics and crypto.
The Oracle’s Role in Enhancing User Experience
Thanks to “The Oracle,” Polymarket users can now access up-to-date information and make informed bets based on the latest news and trends. This feature adds visual appeal to the platform’s stories and provides direct access to traders for better decision-making.
By
By
By
By
By
By