Polymarket surpasses $1B in guess buying and selling Quantity amid US election betting surge

• Polymarket surpasses $1 billion in buying and selling, pushed by US election betting surge.
• Trump leads with 57% odds; Harris’s odds rise to 40% after Biden’s withdrawal.
• Collection B funding of $70 million and MoonPay partnership enhance Polymarket’s platform progress.

Polymarket, a number one crypto betting platform, has achieved a big milestone, surpassing $1 billion in buying and selling quantity.

This surge has been largely pushed by intense hypothesis surrounding the upcoming United States presidential election.

Donald Trump main with 57% odds

In keeping with Dune Analytics, Polymarket’s guess buying and selling quantity reached $1,051,670,878 million by July 31, a considerable enhance from $111 million in June and $63 million in Might.

The vast majority of this exercise has been fueled by wagers on the US presidential election set for November 4, with over $458 million guess on the end result up to now.

At present, former President Donald Trump holds a robust lead with 57% odds, whereas Vice President Kamala Harris has seen her odds enhance considerably to 40%, following President Biden’s sudden withdrawal from the race.

Polymarket has grown significantly however stays unavailable to American customers

Whereas Polymarket is predominantly used for betting on political outcomes, the platform additionally presents markets on a wide range of matters, together with cryptocurrency, sports activities, enterprise occasions, and the 2024 Olympic Video games.

The platform’s progress has been additional bolstered by a $70 million Collection B funding spherical led by Peter Thiel’s Founder Fund on Might 14, with participation from Ethereum co-founder Vitalik Buterin.

To make the platform extra accessible, Polymarket partnered with funds platform MoonPay on July 24. This collaboration permits customers to make deposits utilizing debit and bank cards, streamlining the onboarding course of for these exterior the cryptocurrency group.

Including to its credibility and experience, Polymarket enlisted election analyst and statistician Nate Silver as an adviser on July 16.

Apparently, regardless of its deal with US occasions, Polymarket stays unavailable to American customers.

With its various vary of prediction markets and a rising world viewers, Polymarket continues to thrive as a number one vacation spot for speculative betting, attracting customers eager on a wide selection of matters.