0
0
News

Polymarket's Big Night

The predictions market became an essential channel for users following the election results.
0
0
Nov 6, 2024 • 1 min read

Polymarket faced a major stress test last night—and passed with flying colors as the platform become an essential source of sentiment tracking for those closely following vote counts.

What's the Scoop?

  • Huge Volume: Over the past two days, Polymarket saw over $300M in transaction volume, with more than 85% coming from users betting on the election.
  • Mainstream Adoption: Polymarket didn’t just climb the charts on Apple’s App Store; its CEO, Shayne Coplan, also revealed that Trump HQ was using Polymarket.

Bankless Take:

Polymarket not only demonstrated the potential to augment traditional polling done by large media outlets but also highlighted the power of Web3. UMA facilitated accurate settlement of election bets with Donald Trump’s win, while Polygon handled the surge in traffic seamlessly. While discussions continue about the election and Polymarket’s massive volume, most people remain unaware that this was all powered by crypto.

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.

Published in Bankless

There’s a revolution in the world of money. Ethereum, Bitcoin, crypto, open finance, DeFi—a bankless revolution. And you want part of it.

Are you sure you want
to log out?
You'll lose access to your Bankless account until you log back in again. Oh and also, we'll miss you too much! 😢
Cancel
Continue
Account Light mode Log Out