2024

Donald Trump

Replay

<ul> 
 <li aria-level="1">CFTC proposes regulations fearing prediction markets might disrupt public trust, with Senator Warren advocating for stringent controls.</li> 
 <li aria-level="1">Cameron Winklevoss champions decentralized prediction markets for their integrity, requiring real stakes from participants.</li> 
</ul> 
Polymarket, a platform used for predicting U.S. election outcomes, has come under scrutiny despite its analytical approach to forecasting.&nbsp; 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 "Whoever wins Pennsylvania wins the election." 
 Trump's odds are up by 2%. <a href="https://t.co/bP6Jgj8lh4">pic.twitter.com/bP6Jgj8lh4</a> 
 — Polymarket (@Polymarket) <a href="https://twitter.com/Polymarket/status/1828104479604080853?ref_src=twsrc%5Etfw">August 26, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
This year, its predictions have centered around the electoral importance of Pennsylvania. According to Polymarket, the state’s outcome could decisively influence the presidential race. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Replay every move in the 2024 election odds: <a href="https://t.co/herf0KBFbP">pic.twitter.com/herf0KBFbP</a> 
 — Polymarket (@Polymarket) <a href="https://twitter.com/Polymarket/status/1826014501436559499?ref_src=twsrc%5Etfw">August 20, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
<h2 id="b-vitalik-buterin-has-publicly-supported-polymarket-b">Vitalik Buterin has publicly supported Polymarket</h2> 
He <a href="https://x.com/VitalikButerin/status/1827640377060233716">argues</a> that the platform provides crucial data for decision-making and should not be dismissed as mere gambling. 
Buterin emphasizes that prediction markets serve as tools for <a href="https://www.ethnews.com/vitalik-buterin-reveals-why-cryptocurrencies-are-at-a-governance-crossroads-whats-next/">understanding</a> societal perspectives on probable future events, contrasting them with traditional media which may be biased. 
<figure id="attachment_89488" aria-describedby="caption-attachment-89488" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-89488" src="https://www.ethnews.com/wp-content/uploads/2024/08/vitalik-polymarkets.png" alt="vitalik-polymarkets" width="736" height="492">
 <figcaption id="caption-attachment-89488" class="wp-caption-text">
 Source: x/VitalikButerin
 </figcaption>
</figure> 
The platform’s operations, however, are challenged by <a href="https://www.ethnews.com/kamala-harris-appoints-crypto-skeptics-as-economic-advisors-signaling-possible-regulatory-tightening/">regulatory concerns</a>. The CFTC has proposed regulations that could restrict such markets, arguing they might negatively impact public trust during elections. U.S. Senator Elizabeth Warren has also expressed concerns, suggesting that these markets could disrupt the democratic process. 
Supporting <a href="https://www.ethnews.com/vitalik-buterin-urges-a-deeper-look-at-politicians-crypto-friendly-claims/">Buterin’s views</a>, Cameron Winklevoss, co-founder of the cryptocurrency exchange Gemini, praises decentralized prediction markets. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Decentralized prediction markets are a significant innovation with real public utility. They provide valuable information on future events that is rooted in financial accountability. Unlike polls, pundits, or expert opinions, they require participants to put their money where… <a href="https://t.co/Il9tiEyQqW">pic.twitter.com/Il9tiEyQqW</a> 
 — Cameron Winklevoss (@cameron) <a href="https://twitter.com/cameron/status/1822119376482685020?ref_src=twsrc%5Etfw">August 10, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
He <a href="https://x.com/cameron/status/1822119376482685020">notes</a> that unlike other forms of election analysis, these markets require participants to invest their own money, which he believes adds a layer of credibility absent in traditional polling or punditry. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Trump is back on top today. 
 79 days to go. <a href="https://t.co/k4MZojj9iy">pic.twitter.com/k4MZojj9iy</a> 
 — Polymarket (@Polymarket) <a href="https://twitter.com/Polymarket/status/1828452755901465052?ref_src=twsrc%5Etfw">August 27, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
The recent data from the Polymarket trading platform indicates that Donald Trump is currently leading in their market trends. 
<img decoding="async" class="aligncenter size-full wp-image-89492" src="https://www.ethnews.com/wp-content/uploads/2024/08/GV-3uHJWYAA0qAr.jpeg" alt="Trump leads here means that traders DO NOT believe the fake media polls." width="900" height="341"> 
It’s important to clarify that Polymarket is not conducting a poll nor betting on the final electoral results; rather, it’s a platform where traders speculate on future developments. The current trend suggests that traders are skeptical of conventional media polls, leading to Trump’s favorable position in market predictions.&nbsp; 
Polymarket participants are essentially speculating on what could potentially unfold next in the political arena, using available data and market sentiment rather than predictive polling methods. 
The post <a href="https://www.ethnews.com/could-polymarket-predict-the-next-president-vitalik-buterin-backs-revolutionary-election-tool/">Could Polymarket Predict the Next President? Vitalik Buterin Backs Revolutionary Election Tool!</a> appeared first on <a href="https://www.ethnews.com">ETHNews</a>.

Could Polymarket Predict the Next President? Vitalik Buterin Backs Revolutionary Election Tool!

Table of Contents

ETHNews

Other articles published on Aug 27, 2024

AAVE Crypto Hits Supply Zone Resistance: Will It Surpass $150?

MakerDAO Rebrands as 'Sky' and Introduces New Stablecoin USDS

New Zealand Introduces Crypto-Reporting Bill to Implement OECD

Nigerian Ministry Partners with Ethereum Layer 2 INTMAX to Support Blockchain Innovation (27 Aug)

What is the Reason for the Long-Term Decline in Bitcoin and Ethereum? Citi Analysts Explained!

TON Network Faces Dual Challenge: Price Drop and Leadership Vacuum

Join our free newsletter for daily crypto updates!