{"id":435711,"date":"2024-07-30T23:30:52","date_gmt":"2024-07-30T22:30:52","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=435711"},"modified":"2024-11-13T23:18:30","modified_gmt":"2024-11-13T23:18:30","slug":"polymarket-bets-speculating-on-trump-vs-harris-hit-record-445-million","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/polymarket-bets-speculating-on-trump-vs-harris-hit-record-445-million\/","title":{"rendered":"Polymarket bets speculating on Trump vs. Harris hit record $445 million"},"content":{"rendered":"<p>Crypto gamblers have staked an astonishing <a href=\"https:\/\/polymarket.com\/elections\">$445 million<\/a> on a potential presidential race between former President <a href=\"https:\/\/cryptoslate.com\/people\/donald-trump\/\">Donald Trump<\/a> and Vice President <a href=\"https:\/\/cryptoslate.com\/people\/kamala-harris\/\">Kamala Harris<\/a>, driving election betting to unprecedented levels on <a href=\"https:\/\/cryptoslate.com\/companies\/polymarket\/\">Polymarket<\/a>.<\/p>\n<p><a href=\"https:\/\/cryptoslate.com\/companies\/dune-analytics\/\">Dune Analytics<\/a> data shows that Polymarket's cumulative bet volume reached $1.03 billion in July, up from $672.94 million in June. This marks a dramatic increase compared to July 2023, when the platform's cumulative bet volume was $283.16 million.<\/p>\n<p>Polymarket allows users to bet on various news events, branding itself as &#8220;the world's largest prediction market.&#8221; Users can bet on over 1,000 different outcomes, including the US presidential election, which has drawn significant interest in recent weeks.<\/p>\n<p>The platform saw a spike in users and bets following headlines about Harris' likely Democratic nomination and an <a href=\"https:\/\/cryptoslate.com\/trump-assassination-attempt-boosts-election-odds-to-ath-polymarket-data-shows\/\">assassination attempt<\/a> on Trump, the leading Republican contender, earlier this month.<\/p>\n<p>Despite its US-focused topics, Polymarket remains inaccessible to American users directly, who must use VPNs and crypto wallets with USDC to place bets.<\/p>\n<h2>Trump vs. Harris stats<\/h2>\n<p>In the week following President Joe Biden's withdrawal from the Democratic race, Harris doubled the Democrats' odds of winning, moving from 18% to 38%. These gains primarily stemmed from numerous smaller bets, whereas Trump's support came from a few high-stakes bettors.<\/p>\n<p>Despite Harris's recent gains, Polymarket whales (large-scale bettors) overwhelmingly favor Trump, who retains a significant lead with a 59% chance of winning the elections.<\/p>\n<p>The platform's interactive map and trending market analysis reflect a dynamic and heavily contested election season. Key battleground states show <a href=\"https:\/\/cryptoslate.com\/polymarket-odds-heavily-favor-trump-amid-dominant-lead-in-swing-states\/\">strong Republican favorability<\/a>, with swing states like Arizona, Georgia, and Pennsylvania favoring Republicans, while Michigan leans Democrat.<\/p>\n<p>Overall, Republicans are favored to control the presidency and the Senate, while Democrats are favored to control the House.<\/p>\n<p>Kamala Harris currently has a 96% chance of being the Democratic nominee, with Michelle Obama trailing at 2%. Josh Shapiro leads the Democratic vice presidential nominee race with 32%, followed closely by Mark Kelly at 29%.<\/p>\n<p>Bettors give Kamala Harris a 60% chance of winning the popular vote, while Trump holds a 38% chance.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crypto gamblers have staked an astonishing $445 million on a potential presidential race between former President Donald Trump and Vice President Kamala Harris, driving election betting to unprecedented levels on Polymarket. Dune Analytics data shows that Polymarket&#8217;s cumulative bet volume reached $1.03 billion in July, up from $672.94 million in June. This marks a dramatic [&hellip;]<\/p>\n","protected":false},"author":1250,"featured_media":435718,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,79621,77968,77644],"tags":[],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Polymarket bets speculating on Trump vs. Harris hit record $445 million<\/title>\n<meta name=\"description\" content=\"Polymarket&#039;s cumulative bet volume reached $1.03 billion in July amid heightened interest in the Trump vs. Harris election race.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/polymarket-bets-speculating-on-trump-vs-harris-hit-record-445-million\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Polymarket bets speculating on Trump vs. Harris hit record $445 million\" \/>\n<meta property=\"og:description\" content=\"Polymarket&#039;s cumulative bet volume reached $1.03 billion in July amid heightened interest in the Trump vs. Harris election race.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/polymarket-bets-speculating-on-trump-vs-harris-hit-record-445-million\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-30T22:30:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-11-13T23:18:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2024\/07\/trump-harris.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"673\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Assad Jafri\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Assad Jafri\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/polymarket-bets-speculating-on-trump-vs-harris-hit-record-445-million\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/polymarket-bets-speculating-on-trump-vs-harris-hit-record-445-million\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/assad-jafri\/#person\",\"name\":\"Assad Jafri\",\"url\":\"https:\/\/cryptoslate.com\/author\/assad-jafri\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/assad-jafri\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/assad-jafri\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/02\/cs-syed.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/02\/cs-syed.jpg\",\"caption\":\"Assad Jafri\"},\"jobTitle\":\"Former Editor & Reporter\",\"description\":\"AJ, a passionate journalist since Yemen's 2011 Arab Spring, has honed his skills worldwide for over a decade. 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