PolyMarket Surpasses $1 Billion in Betting Quantity as U.S. Election Playing Surge

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  • Polymarket Surpasses $1 Billion in Quantity as US Election Betting Surge Continues
  • Trump is main with 57% odds, whereas Biden's withdrawal has raised Harris' odds to 40%.
  • $70M Collection B funding and partnership with MoonPay will gasoline progress of Polymarket's platform.

Polymarket, a number one cryptocurrency playing platform, has reached a big milestone by surpassing $1 billion in buying and selling quantity.

The surge was primarily pushed by intense hypothesis surrounding the upcoming US presidential elections.

Donald Trump leads with a 57% likelihood

Based on Dune Analytics, Polymarket betting quantity reached $1,516,708,780 million by means of July 31, up from $111 million in June and $63 million in Could.

A lot of this exercise is pushed by betting on the US presidential elections scheduled for November 4, with greater than $458 million wagered on the result to this point.

Former President Donald Trump at present holds a big lead with odds of 57%, whereas Vice President Kamala Harris' odds have elevated considerably to 40% following President Biden's surprising withdrawal from the election.

Polymarket has grown considerably however stays unavailable to American customers

Polymarket is primarily used for betting on political outcomes, however the platform additionally affords markets on a wide range of subjects, together with cryptocurrencies, sports activities, enterprise occasions, and the 2024 Olympics.

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The platform's progress was additional boosted by a $70 million Collection B funding spherical on Could 14, led by Peter Thiel's Founder Fund and together with participation from Ethereum co-founder Vitalik Buterin.

To make the platform extra accessible, Polymarket partnered with funds platform MoonPay on July 24. The collaboration will enable customers to deposit utilizing debit and bank cards, streamlining the onboarding course of for individuals outdoors the cryptocurrency neighborhood.

To additional bolster its credibility and experience, PolyMarket employed election analyst and statistician Nate Silver as an advisor on July 16.

Apparently, regardless of Polymarket's deal with US occasions, it stays unavailable to US customers.

With a various vary of prediction markets and a rising world viewers, Polymarket continues to develop as a number one vacation spot for speculative betting, attracting customers eager about a variety of subjects.

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