Polymarket, a prediction market platform based on the Polygon blockchain, has seen a significant portion of its 2024 trading volume—88%—driven by bets on U.S. election outcomes, according to Dune Analytics. The platform has recorded over $650 million in trading this year, with nearly half of that volume occurring in July as traders placed bets on presidential candidates like Donald Trump and Kamala Harris.
Data shows that markets tagged “Presidential Election Winner 2024” and “Democratic Nominee” account for 50% of the platform’s trading volume, highlighting the intense focus on U.S. elections.
Prediction: As the election approaches, trading volume on platforms like Polymarket is likely to increase, especially in markets related to key political races. This trend could lead to further growth and visibility for blockchain-based prediction markets.
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