2024

Donald Trump

Billion

The betting volume for the 2024 U.S. presidential election on Polymarket, a decentralized prediction platform, recently crossed the $2 billion mark.&nbsp; 
As of October 17, Trump <a href="https://polymarket.com/event/presidential-election-winner-2024?tid=1729105421246" target="_blank" rel="noreferrer noopener nofollow">leads</a> the market with approximately $615 million in bets and a 62.3% chance of winning, while Harris has amassed $409 million in betting volume with 37.5% winning odds. 
The rapid surge in betting activity followed Polymarket’s earlier milestone of crossing $1 billion in volume on September 24. The two billion mark was achieved in just 23 days, a significant acceleration compared to the platform’s previous growth rate. 
Polymarket’s prediction market has grown substantially in October, with a 113.7% increase in volume compared to September’s $533.5 million. The platform’s volume for October reached $1.14 billion by mid-month, reflecting increased political betting as the November 5 election nears. 
This election cycle has been a major driver of growth for Polymarket, which also raised $45 million in Series B funding earlier in 2024 and has plans to raise another $50 million, along with potential plans to launch its own token.​ 
The platform has gained significant attention due to endorsements from figures like Elon Musk, who praised its predictive accuracy over traditional polls. 
Musk has also <a href="https://www.cryptotimes.io/2024/10/16/dogecoin-jumps-11-as-elon-musk-donates-75m-to-back-trump/" target="_blank" rel="noreferrer noopener">donated nearly $75 million</a> to the America PAC, a pro-Republican group supporting Donald Trump in the 2024 U.S. presidential race. He has <a href="https://www.cryptotimes.io/2024/10/17/musk-joins-trump-campaign-claims-he-will-fight-for-free-speech/" target="_blank" rel="noreferrer noopener">publicly endorsed Donald Trump</a> for the 2024 U.S. election, even joining him at a rally in Butler, Pennsylvania, where he referred to himself as “Dark MAGA.” 
The Polymarket odds currently suggest that Trump has a clear lead over Harris, but the race remains dynamic, and both candidates’ stances, particularly on issues like cryptocurrency, are influencing voter sentiment​.

Polymarket’s 2024 U.S. Election Bets Cross $2 Billion Mark

The Crypto Times

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