Originally published on: November 05, 2024
As the US presidential election unfolds, bettors are going all-in with trading volumes reaching almost $4 billion on top prediction markets. The surge in activity indicates high voter engagement in the race, with various platforms witnessing massive trading volumes.
Polymarket, a Web3-native betting platform, has emerged as a dominant player in the political betting arena, with over $3.3 billion wagered on the presidential race despite being unavailable in the US. However, new platforms like Kalshi, Robinhood, and Interactive Brokers have quickly gained popularity since their launch in October, collectively attracting over $500 million in trading volume.
Currently, Republican candidate Donald Trump leads the polls across major prediction platforms, with odds ranging from 58% to nearly 62% in his favor. These prediction markets cover a wide array of outcomes, from the popular vote to the margin of victory for the winning candidate.
Despite facing some controversy, including allegations of wash trading and delayed payouts, these betting platforms offer users a unique opportunity to engage with the political process in a new way. With growing competition and public interest, the US presidential election betting markets are set to continue expanding in the coming years.
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