A Polymarket User has significantly increased Kamala Harris’s odds of winning the US presidential election on the platform by placing a significant bet on her.
A Polymarket user with the username Ly67890 purchased $2 millions of Yes shares on Kamala Harris winning the election with about 12 days left to the grand finale of the US presidential elections.
According to data from Polymarket, Before the huge Bet was made most of the bets on the platform were less than $1000 and only six were worth over $100,000.
This new mammoth bet is worth $2.153 million and it pushed Harris’ chances on the platform to 39.9% from its local bottom of 35%.
The new $2 million bet pushed the total number of Bets placed on Kamala Harris to surpass $500 million.
Donald Trump still leading on Polymarket
Despite the huge bet recently placed, Donald Trump is still leading on the Polymarket platform with a healthy margin. At the time of press, Donald Trump is leading on the platform with a 60.1% chance against Kamala Harris’s 39.9%.
- The total betting volume on Polymarket on the outcome of the November 5 presidential election is currently at $2.63 billion and Trump is leading with $783 million.
- However, it is important to note that Polymarket is not an accurate predictor of events and does not decide the U.S presidential election winner.
- Donald Trump’s rally on the platform is backed by the United States crypto community who view trump as a Bitcoin candidate and are not happy with the regulations of the crypto industry under Joe Biden and Kamala Harris.
- One of the main reasons behind the crypto community’s limited interest in the Democrat candidate is the poor regulation during the Biden-Harris Administration with pending cases like the US SEC vs Ripple Labs and the imprisonment of Binance Founder Changpeng Zhao a leading voice in the crypto industry.
Donald Trump in his campaign trail has also made a strong case for crypto promising to make the United States the leader of the global crypto rally if elected.
What to Know
- Both candidates have addressed the issue of crypto in their campaign trails, But Donald Trump won the crypto community with his performance at the Bitcoin 2024 conference in Nashville.
- Kamala Harris’s team set up a town hall meeting with crypto enthusiasts that turned out to be very underwhelming side-stepping key issues like regulations and Investment in the crypto sector. The town hall meeting was attended by influential democrats like Mark Cuban.