đ Trump's Election Odds Surge as Polymarket Whale Bets Another $2M
The odds of Donald Trump winning the Nov. 5 presidential election have hit 67% on Polymarket, the decentralized betting platform, thanks to a mysterious whale investor who recently wagered another $2 million on a Trump victory. This latest move brings the whaleâs total bet to over $7 million in USD Coin (USDC).
Known by the handle âzxgngl,â the whale has amassed 11.28 million âYesâ shares, and itâs not aloneâanother high-profile bettor, âFredi9999,â has poured over $20 million into pro-Trump bets. This heavy betting activity has driven Trumpâs odds from a September low to a consistent lead since Oct. 4, with odds steadily climbing.
Elon Musk suggests decentralized betting markets like Polymarket may actually provide a more accurate read than traditional polling. Unlike polls, betting markets factor in both financial risk and real-time shifts in sentiment, making them potentially more responsive indicators of public confidence.
Interest in crypto prediction markets is surging. Betting volumes jumped over 565% in Q3 2024, reaching $3.1 billion, largely driven by the U.S. elections. Polymarket, the leader in the space, now holds a 99% market share.
With just a week until the election, all eyes are on these betsâwill the whales' confidence pay off, or are they simply caught in a confirmation bias loop?
Who will win the election?
Drop your guess below!
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