Main Points Related to Bitcoin, web3, Ethereum, and Cryptocurrency:
- Polymarket experienced significant growth in bets, reaching 1.5 million in July.
- Total bets on Polymarket since its launch stand at 5.29 million.
- The cumulative bet trading volume on Polymarket exceeded $1 billion.
- Betting volume for July rose by 219% to $355.23 million.
- Total bets on the U.S. presidential elections on Polymarket reached $439 million.
- Donald Trump has a 57% chance of winning the elections with $54 million in bets.
- VP Kamala Harris has a 39% chance of becoming the 47th U.S. president with $38.5 million in bets.
- Polymarket partnered with MoonPay to enable non-crypto users to access the platform.
Polymarket Growth and Bet Volume
The blockchain-based prediction market Polymarket witnessed remarkable growth recently, particularly amidst discussions surrounding the U.S. elections. Data from Dune Analytics shows that the total number of bets on Polymarket surpassed 1.5 million in July, with a cumulative total of 5.29 million bets since its inception. The trading volume on Polymarket has crossed $1 billion, marking a substantial increase in betting activity.
Impact of U.S. Election Debates on Polymarket
As the U.S. presidential elections gain momentum, the betting volume on Polymarket has surged significantly. July alone saw a 219% increase in betting volume, reaching $355.23 million. The platform has recorded bets amounting to $439 million on the upcoming elections, with notable predictions indicating a 57% chance of Donald Trump winning and a 39% chance for VP Kamala Harris. These insights reflect the growing interest in election outcomes and its impact on betting behavior.
Polymarket’s Strategic Partnership with MoonPay
In a strategic move to expand accessibility, Polymarket collaborated with MoonPay to facilitate non-crypto users’ participation in the market prediction platform. By leveraging MoonPay’s support, Polymarket aims to enhance user engagement and broaden its reach beyond the traditional crypto audience.
