Polymarket, the largest crypto-based prediction market in the industry has witnessed its community split over a bet on whether Donald Trump will launch a crypto coin before November 4 the day of the presidential election.
As of the time of the report, the contract on Polymarket has garnered over $50 million in trading volume splitting the Polymarket community into a Yes or No crowd on the issue.
Holders of the Yes share for the contract form the highest group in the market with one single member in this category owning a whopping 8.3 million shares.
The 8.3 million shares suggest that this particular user spent thousands of dollars on the bet.
The Yes group backing this contract on Polymarket is viciously opposed by the No group who argue that the contract is not obtainable and that Donald Trump only promoted the World Liberty Financial project but did not directly launch the WLFI coin.
The No group doesn’t believe that Donald Trump is heavily involved in cryptocurrency as they make it out to be and the chances of him directly launching another coin are quite low.
A Polymarket community member shed more light on the issue and cited WLFI’s website disclaimer, which explicitly stated neither Trump nor any of his family members were employees of World Liberty Financial.
Hence, meaning that Donald Trump did not directly launch the World Liberty coin.
Polymarket Solution
Polymarket position on the issue explains that Trump’s public affiliation with WLFI justified a “Yes” resolution. Despite two disputes launched by users, the platform was on course to reward “Yes” bettors by the evening of Oct. 17.
In Polymarket defense, the platform reiterated that Trump was directly involved with the World Liberty Financial token justifying the contract on whether Trump will launch another token before November 5.
Donald Trump was explicitly involved with World Liberty Financial and has directly promoted the WLFI token sale, which occurred on October 15. Thus, this market should resolve to “Yes”. Polymarket stated
What to Know
- Polymarket is the world’s largest prediction market. The platform offers users the opportunity to trade on the world’s most highly-debated topics like crypto, politics, sports, current events, and more.
- Polymarket has become an important indicator in the presidential elections as the odds of both candidates winning the election have served as a measure of the current swing in the presidential campaign trail.
- Kamala Harris overtook Donald Trump days after she was announced as the new flag bearer of the democrat’s party. But that has been reversed as Trump gained momentum over the months taking back the lead.
