2024

Donald Trump

<p>Polymarket, the blockchain-based prediction platform, recorded a trading volume of $533.51 million in September, driven largely by interest in the 2024 U.S. presidential election and geopolitical developments in the Middle East.</p>
<p>According to Dune Analytics, this marks a $61.51 million increase from August’s $472 million. The platform also saw a 41% rise in active users, growing from 63,616 in August to 90,037 in September.</p>
<h2 id="polymarket-s-growth">Polymarket’s Growth</h2>
<p>With the U.S. election just over a month away, demand for Polymarket has surged. <a href="https://dune.com/fergmolina/polymarket-markets-data" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">Data</a> from Dune Analytics shows that the platform’s most active market, “Presidential Election Winner 2024,” recorded $89.07 million in trading volume over the last 30 days. As of October 4, the odds for Donald Trump and Kamala Harris are locked in a tie, with each candidate <a href="https://polymarket.com/elections" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">holding</a> a 50% chance of winning.</p>
<p>September 30 marked its busiest day, with 16,702 participants placing trades, contributing to a record 89,958 new account registrations throughout the month. The platform’s highest daily volume was initially recorded on September 11, but new daily trading records were set on October 2 and 3, signaling sustained momentum as election day approaches.</p>
<p>Although open interest dipped slightly at the start of September, it recovered, reaching a high of $136 million fueled by rumors of a potential token launch. A report from The Information <a href="https://cryptopotato.com/polymarket-seeking-50m-new-funding-plans-token-launch-report/" data-wpel-link="internal" rel="noopener noreferrer nofollow">revealed </a>that the blockchain prediction service is in talks to raise $50 million in funding.</p>
<p>The company is also <a href="https://cryptopotato.com/84-of-polymarket-bettors-believe-donald-trump-will-likely-launch-a-token/" data-wpel-link="internal" rel="noopener noreferrer nofollow">considering</a> launching its token, which could allow users to verify the outcomes of real-world events.</p>
<h2 id="election-betting-dominates">Election Betting Dominates</h2>
<p>By the end of September, election-related predictions accounted for 84% of its total market activity, with 64% of users engaging in election betting. Other high-interest markets included predictions on geopolitical events like “Israeli Forces Enter Lebanon in September?” and financial forecasts such as “Fed Interest Rates: November 2024.”</p>
<p>Polymarket’s recent surge in activity is linked to growing interest in decentralized prediction markets, fueled by global events like elections, economic policies, and rising geopolitical tensions that have captured public attention.</p>
<p>The post <a href="https://cryptopotato.com/us-election-hype-drives-polymarket-trading-volume-to-533m-in-september/" rel="noopener noreferrer nofollow">US Election Hype Drives Polymarket Trading Volume to $533M in September</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.</p>

US Election Hype Drives Polymarket Trading Volume to $533M in September

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