Donald Trump

Joe Biden

Billion

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/polymarket-surpasses-1-billion-mark" data-wpel-link="internal" rel="noopener noreferrer nofollow">Polymarket Surpasses $1 Billion Mark</a><br></p>
<p style="text-align: justify">Polymarket, a renowned cryptocurrency platform, has eclipsed the $1 billion milestone in trading volume, with over a third of this sum generated within the last month. According to data from Dune Analytics, the platform recorded a prediction volume of $343 million by July 30, a significant jump from $111 million in June and $63 million in May.</p>
<h2 id="why-is-polymarket-gaining-traction">Why is Polymarket Gaining Traction?</h2>
<p style="text-align: justify">The heightened interest in Polymarket is largely driven by intense speculation surrounding the U.S. presidential elections. As of now, more than $429 million has been wagered on the outcome of the November 4 election, with Donald Trump maintaining a leading margin of 60%.</p>
<p style="text-align: justify">Recent developments have also influenced the trading dynamics. With Joe Biden stepping out of the race, Vice President Kamala Harris has surged in the polls, her chances rising from 1% to 38%. This shift is expected to generate increased trading activity on the platform.</p>
<h2 id="broad-scope-of-markets">Broad Scope of Markets</h2>
<p style="text-align: justify">While Polymarket is mainly used for political event speculation, it also provides users with diverse <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">markets</a> including cryptocurrency, sports, business, and the 2024 Olympic <a href="https://newslinker.co/category/gaming/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">Games</a>. This variety has broadened its user base and contributed to its rising popularity.</p>
<h2 id="key-insights-for-users">Key Insights for Users</h2>
<p style="text-align: justify">– **Funding Boost:** Polymarket secured $70 million in Series B funding on May 14, led by Founders Fund and supported by Ethereum co-founder Vitalik Buterin.</p>
<p style="text-align: justify">– **Payment Integration:** On July 24, Polymarket partnered with MoonPay to enable bank and credit card payments, simplifying onboarding for non-crypto users.</p>
<p style="text-align: justify">– **Expert Advisor:** The platform hired election analyst Nate Silver as an advisor on July 16 to capitalize on the growing interest in U.S. political speculation.</p>
<h2 id="looking-forward">Looking Forward</h2>
<p style="text-align: justify">Although Polymarket caters primarily to U.S.-based events, it remains inaccessible to American users. If this restriction is lifted, the platform could see a significant boost in activity and user engagement.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/polymarket-surpasses-1-billion-mark" data-wpel-link="internal" rel="noopener noreferrer nofollow">Polymarket Surpasses $1 Billion Mark</a></h5>

Polymarket Surpasses $1 Billion Mark

Table of Contents

BH NEWS

Další články publikované 30. 7. 2024

Bitcoin Conference in Nashville Fuels Push for U.S. Adoption as Reserve Asset

SEC seeks to drop its allegations against SOL, MATIC in Binance case

WTK Price Falls as WadzPay Holders Jump Ship After MEXC Listing Announcement, is a Binance Listin...

Is It Time To Hold Or Sell Bonk And Toncoin As New Altcoin Raboo Set To Dominate?

Leading Projects at the Forefront of Blockchain Gaming Revolution

Kamala Harris Considers Gary Peters for Vice President in 2024

Join our free newsletter for daily crypto updates!