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

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