With the U.S. presidential election just a day away, the odds between former President Donald Trump and Vice President Kamala Harris are tightening, according to data from Polymarket.
As of now, Trump’s chances of winning have decreased from a recent high of 67% on October 30 to 57%. Conversely, Harris’s odds have increased from a low of 33.1% to 43% during the same period.
In the lead-up to the election scheduled for November 5, the total betting volume on Polymarket, a cryptocurrency-based betting platform, has surged past $3 billion. Trump currently leads with $1.2 billion in bets, while Harris has attracted $772 million.
Recent events, including technical difficulties during Trump’s rally in Milwaukee, may have influenced these shifting odds. Additionally, Trump-themed meme coins have seen a significant decline, as reported by crypto.news.
Discussions around Polymarket’s predictive accuracy have gained traction, particularly among crypto enthusiasts. WhaleWire analyst Jacob King noted that many bettors are likely backing Trump, swaying the odds in his favor, largely due to his perceived pro-crypto stance.
Despite claims from The New York Times that Polymarket operates with a partisan bias, the platform’s CEO Shayne Coplan defended it as a “crypto-powered gambling” venue. He emphasized that Polymarket operates on a decentralized network, providing users with transparent trading data.
Due to regulatory constraints, Polymarket has been functioning outside of the U.S. market.
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