Donald Trump

Joe Biden

USDC

<p class="is-style-lead">MoonPay’s integration with Polymarket allows bettors to wager funds from non-crypto vendors.&nbsp;&nbsp;&nbsp;</p> 
<p>Polymarket, a popular crypto betting site, is upgrading its platform to handle the surge in wagers driven by recent online hype and the tumultuous U.S. presidential election.&nbsp;</p> 
<p>In partnership with Miami-based <a href="https://crypto.news/moonpay-bitpay-partner-to-simplify-crypto-transactions/" target="_blank" data-type="link" data-id="https://crypto.news/moonpay-bitpay-partner-to-simplify-crypto-transactions/" rel="noreferrer noopener">MoonPay</a>, Polymarket will soon enable users to pay for bets via bank transfers and credit cards, simplifying the current process of purchasing stablecoin <a href="https://crypto.news/price/usd-coin/" target="_blank" data-type="link" data-id="https://crypto.news/price/usd-coin/" rel="noreferrer noopener">USDC</a> on a crypto exchange.</p> 
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   <p lang="en" dir="ltr">BREAKING: Moonpay partners with Polymarket to enable credit card payments for the leading prediction market<br><br>This partnership will also enable additional crypto assets to be used beyond USDC, along with direct bank transfers. <a href="https://t.co/SHXmo40mui" target="_blank" rel="">pic.twitter.com/SHXmo40mui</a></p>— TylerD 🧙‍♂️ (@Tyler_Did_It) <a href="https://twitter.com/Tyler_Did_It/status/1816103704916799571?ref_src=twsrc%5Etfw" target="_blank" rel="">July 24, 2024</a>
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<p>Before the MoonPay integration, <a href="https://crypto.news/polymarkets-largest-bet-misses-as-trump-fails-to-mention-bitcoin-at-rnc-speech/" target="_blank" rel="noreferrer noopener">bettors</a> would have to buy USDC on a crypto exchange and transfer it over to Polymarket. This buying and transferring would incur fees.&nbsp;</p> 
<p>Bloomberg was the first to <a href="https://www.bloomberg.com/news/articles/2024-07-24/trump-harris-2024-election-polymarket-handles-soaring-bet-volumes" target="_blank" rel="">report</a> on this integration.&nbsp;</p> 
<p> You might also like: <a href="https://crypto.news/what-is-polymarket/"> What is Polymarket? </a> </p> 
<h2 class="wp-block-heading" id="polymarket-s-growing-popularity">Polymarket’s growing popularity</h2> 
<p>Even though Polymarket is unavailable in the US, it is growing rapidly even as the US Commodity Futures Trading Commission considers a ban on event contracts. The company previously faced a <a href="https://crypto.news/tag/CFTC/" target="_blank" rel="noreferrer noopener">CFTC</a> fine in 2022 for illegal trading services, agreeing to halt US operations while continuing abroad.&nbsp;</p> 
<p>Polymarket is more transparent due to its use of smart contracts and blockchain technology, which provides users with greater insight into share price calculations than traditional betting platforms.</p> 
<p>Polymarket has raised <a href="https://crypto.news/polymarket-peter-thiel-vc-firm/" target="_blank" rel="noreferrer noopener">$70 million</a> in funding, with its latest round led by Founders Fund.</p> 
<p>The election, marked by unprecedented events such as an <a href="https://crypto.news/polymarket-failed-assassination-boosts-trumps-victory-odds-to-71/" target="_blank" rel="noreferrer noopener">assassination attempt</a> on candidate Donald Trump and incumbent Joe Biden <a href="https://crypto.news/polymarket-kamala-harris-overtakes-biden-for-dem-nominee/" target="_blank" rel="noreferrer noopener">exiting the race,</a> has led to record betting volumes.</p> 
<p>The site sees significant interest in betting on the November election, in which Trump will face Vice President Kamala Harris.</p> 
<p> You might also like: <a href="https://crypto.news/trump-strategic-bitcoin-reserve-unlikely/"> Polymarket: Trump announcing a strategic Bitcoin reserve unlikely </a> </p>

Polymarket partners with MoonPay on bank, credit card funding

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