- Polymarket surpassed $1 billion in buying and selling, pushed by a rise in betting on the US election.
- Trump leads with 57% odds; After Biden's withdrawal, Harris' odds improve to 40%.
- Collection B funding of USD 70 million and MoonPay partnership assist the expansion of the Polymarket platform.
Polymarket, a number one crypto betting platform, has reached a serious milestone, surpassing $1 billion in buying and selling quantity.
This improve was largely pushed by intense hypothesis surrounding the upcoming United States presidential election.
Donald Trump leads with 57% odds
In keeping with Dune Analytics, Polymarket's commerce quantity reached $1,051,670,878 million as of July 31, a considerable improve from $111 million in June and $63 million in Could.
Betting on the November 4 US presidential election has fueled many of the exercise, with greater than $458 million wagered on the end result thus far.
Former President Donald Trump at present holds a powerful lead with 57% odds, whereas Vice President Kamala Harris noticed her odds enhance considerably to 40% following President Biden's sudden withdrawal from the race.
Polymarket has grown significantly, however stays inaccessible to US customers
Whereas Polymarket is principally used for betting on political outcomes, the platform additionally gives markets on a wide range of subjects, together with cryptocurrencies, sports activities, enterprise occasions and the 2024 Olympics.
The platform's development was additional boosted by a $70 million Collection B funding spherical led by Peter Thiel's Founder Fund on Could 14, with participation from Ethereum co-founder Vitalik Buterin.
To make the platform extra accessible, Polymarket partnered with the MoonPay fee platform on July 24. This collaboration permits customers to make deposits utilizing debit and bank cards, simplifying the registration course of for these outdoors the cryptocurrency neighborhood.
Including to its credibility and experience, Polymarket added election analyst and statistician Nate Silver as an advisor on July 16.
Apparently, regardless of its deal with US occasions, Polymarket stays unavailable to US customers.
With its numerous vary of prediction markets and a rising international viewers, Polymarket continues to thrive as a number one vacation spot for speculative betting, attracting customers keen on a variety of subjects.
