The Paris Olympics and Crypto Bets🏅
With an extravagant opening ceremony, the 2024 Paris Olympics are underway—and millions of dollars in crypto bets have already been placed on the wildly popular Polymarket. So much so that the decentralized crypto-powered platform now has an “Olympics” category. A total of $1.2 million has already been placed on bets predicting which country will win the most medals.
After that, punters have put $1.1 million on which country will win the most gold medals. The U.S. is the favorite to scoop up the most, with $168,711 being dropped on the nation.
There are a number of wagers available for individual sports, such as the gold medal winners in men’s and women’s basketball, with $355K and $101K respectively riding on the outcome. Soccer and several swimming contests follow.
So far, not many individual athletes have appeared on the site—except for American swimmer Katie Ledecky and Spanish tennis player Rafael Nadal. Gamblers can place bets on the number of gold medals each will win.
Polymarket has exploded in popularity as of late. People around the world can bet on everything from politics and sports to what a high-profile person will say on television. The platform runs on two major blockchains: Ethereum and Polygon.
Trading volume this month soared as users increasingly put bets on the outcome of the U.S. presidential election.
Hot Take⭐
Get in on the exciting action of the Paris Olympics by placing your crypto bets on Polymarket. With a variety of wagers available, you can join the millions of users engaging in this popular decentralized platform. Don’t miss out on the thrill of predicting medal winners and outcomes of various sports events!
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