This article highlights the unprecedented level of crypto betting on a potential presidential race between Donald Trump and Kamala Harris, with a record $445 million staked on Polymarket.
Points
- Crypto gamblers have staked $445 million on a potential presidential race between Trump and Harris.
- Polymarket’s cumulative bet volume reached $1.03 billion in July.
- Despite Harris’s recent gains, Trump retains a significant lead with a 59% chance of winning.
- The high level of betting reflects the growing intersection of politics and crypto markets.
Record-Breaking Crypto Betting
Crypto gamblers have staked an astonishing $445 million on a potential presidential race between former President Donald Trump and Vice President Kamala Harris. This level of betting has driven election betting to unprecedented levels on Polymarket, with the platform’s cumulative bet volume reaching $1.03 billion in July, up from $672.94 million in June.
Betting Dynamics and Market Sentiment
In the week following President Joe Biden’s withdrawal from the Democratic race, Harris doubled the Democrats’ odds of winning, moving from 18% to 38%. Despite Harris’s recent gains, Polymarket whales overwhelmingly favor Trump, who retains a significant lead with a 59% chance of winning the elections. This dynamic reflects the market’s perception of the candidates’ chances and the growing intersection of politics and crypto markets.
解説
- The record-breaking level of crypto betting on the potential presidential race between Trump and Harris underscores the growing influence of crypto markets in political betting.
- Polymarket’s substantial increase in cumulative bet volume highlights the platform’s role in facilitating these high-stakes bets and reflects broader trends in the crypto market.
- The dynamics of the betting market provide insights into market sentiment and perceptions of the candidates’ chances, illustrating the intersection of politics and crypto trading.
- As the political landscape evolves, the integration of crypto markets into political betting
is likely to increase, reflecting broader trends in both sectors.