Cryptocurrency Trump dominance: Data affects positively!

After the assassination attempt on Donald Trump, the volume of the crypto prediction platform Polymarket reached record levels.

According to Dune Analytics, Polymarket reached a volume of $116.4 million this month, surpassing the previous highest volume of $111.5 million in June. A significant portion of the trading volume in the prediction market can be directly associated with platform users betting on the outcome of the US presidential elections.

US presidential candidate Donald Trump is leading the race

Polymarket users placed bets worth a total of $263.5 million on which presidential candidate is most likely to win the US election on November 4th. At the time of publication, Trump continues to be the crowd favorite among prediction investors with a 69% chance of winning, followed by current President Joe Biden with 19%.

Vice President Kamala Harris ranks third with 6%, while former First Lady Michelle Obama ranks fourth with only 2%. Since the beginning of this year, a total of $471.9 million has been bet on various events such as politics, finance, sports, and crypto on Polymarket.

Polymarket is bringing Nate Silver on board

According to Axios’ report on July 16th, Polymarket has hired election analyst and statistician Nate Silver as a consultant. Silver said that prediction markets are not just about financial speculation, but are particularly useful in helping people understand broader emotions, especially during turbulent social and political times.

Silver said, ‘Probabilities are really important when trying to make plans’.

Silver, one of the few analysts who thinks that Trump’s selection of crypto-friendly Ohio Senator JD Vance as vice president candidate could damage Trump’s campaign.

Polymarket closed a $70 million Series B investment round led by Peter Thiel’s Founder Fund on May 14, with significant participants such as Ethereum’s co-founder Vitalik Buterin. Additionally, although the platform is not open to investors residing in the United States, it is primarily used for speculating on the outcomes of American political events.

This article does not contain any investment advice or recommendation. Every investment and trading activity involves risk, and readers should conduct their own research when making decisions.