$1.7B Bet on 2024 Election: Trump Leads with 55% Odds
With over $1.7 billion bet on the 2024 election, Trump holds a 55% chance of winning, reflecting intense interest and shifting dynamics in the political landscape.
Highlights:
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Over $1.7 billion wagered on the U.S. presidential election.
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Donald Trump’s winning odds rise to nearly 55% on Polymarket.
Over $1.7 billion has been wagered on the outcome of the 2024 U.S. presidential election through Polymarket, a decentralized prediction market that allows users to bet on various real-world events. As of now, Donald Trump holds a nearly 55% chance of winning the election, according to the latest data from the platform.
Polymarket has experienced a surge in activity, with trading volumes reaching record highs amid growing interest in the upcoming election. The platform reported over $533 million in trading volume just last month, driven largely by bets on the presidential race. This market has become a focal point for bettors, accounting for approximately 84% of Polymarket's total market share.
The dynamics of betting odds have shifted dramatically in recent weeks, especially following endorsements and comments from influential figures like Elon Musk. Trump's odds saw a significant boost after Musk highlighted Polymarket's predictions as more reliable than traditional polls, which often show a tighter race between Trump and Vice President Kamala Harris.
As Election Day approaches on November 5, analysts are closely monitoring these betting trends, which could reflect broader public sentiment and influence voter behavior. The unprecedented level of engagement on Polymarket underscores the growing intersection between politics and online betting markets.
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