Polymarket Traders Are Betting On Trump's Return To The White House
Portfolio Pulse from Mehab Qureshi
Polymarket traders are betting on Donald Trump's victory in the 2024 U.S. presidential election with a 55% probability. Trump's odds increased after winning the first two Republican primaries. Biden's chances stand at 38%, while other candidates like Nikki Haley and Michelle Obama are considered long shots. Polymarket, a decentralized betting platform using Ethereum's blockchain, has seen over $22 million in wagers on the election, with $3.4 million on Trump.
January 30, 2024 | 10:39 am
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Polymarket, which uses Ethereum blockchain for transactions, shows a 55% probability of Trump winning the 2024 election. Over $22 million has been wagered on the platform, indicating significant usage and potential increased transaction volume for Ethereum.
The use of Ethereum's blockchain for Polymarket's betting transactions could lead to increased transaction volume and network usage, especially with high betting volumes. This could potentially have a positive impact on Ethereum's demand and price in the short term.
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IMPORTANCE 60
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