As Americans head to the polls, betting markets surrounding the US presidential election have surged, with trading volumes nearing $4 billion across top prediction platforms. Web3-native Polymarket has captured the lion’s share of this activity, handling around $3.3 billion in wagers on the presidential outcome despite restrictions within the United States, per its website. Prediction markets, like Polymarket, enable users to place binary bets on various political outcomes, including the presidential race, Senate campaigns, and notable political events like New York City Mayor Eric Adams’s potential resignation.
While Polymarket dominates, newer platforms like Kalshi, Robinhood, and Interactive Brokers have also entered the political betting scene, collectively drawing over $500 million in trading volume since October. These platforms offer contracts on key election metrics, from popular vote shares to the winning candidate’s margin of victory, with bettors showing strong interest in popular vote outcomes.
As of Nov. 5, former President Donald Trump leads with significant odds on these platforms, with Polymarket giving him a 62% chance of winning, while Kalshi and Interactive Brokers peg his odds closer to 58%. The booming election betting activity highlights the growing role of prediction markets in gauging political sentiment.
Source: Cointelegraph
Photo Credits: Cointelegraph
