Trump Reestablishes Lead Over Kamala Harris In Presidential Odds On Crypto-Based Prediction Market
Portfolio Pulse from Aniket Verma
Former President Donald Trump has regained a lead over Kamala Harris in the presidential odds on the crypto-based prediction market, Polymarket. Trump's odds are at 52% compared to Harris' 47%. The platform, built on Ethereum's Layer-2 chain, Polygon, has seen over $780 million in bets. Trump's lead is linked to his crypto-friendly stance, while Harris has not publicly addressed cryptocurrencies.
September 03, 2024 | 3:38 am
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POSITIVE IMPACT
Ethereum, as the underlying blockchain for Polymarket, benefits from increased activity and interest in prediction markets, especially with the upcoming U.S. elections.
Polymarket's use of Ethereum's Layer-2 solution, Polygon, for its prediction market platform increases Ethereum's utility and demand, potentially boosting its price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Polygon, as the Layer-2 solution for Polymarket, is likely to see increased usage and interest due to the platform's popularity in election betting.
The use of Polygon as the Layer-2 solution for Polymarket enhances its visibility and utility, potentially leading to a positive impact on its price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70