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Polymarket Records Strongest Ever Month As Election Season Heats Up

By adminJune 4, 2024, 5:31 AM1 Mins read188 Views

Polymarket Records Strongest Ever Month As Election Season Heats Up

Polymarket, a crypto-native prediction market platform, saw its strongest month on record in May, with over $63 million worth of bets placed.

The platform’s active traders increased significantly, with nearly 13,600 users wagering on predictions, a 405% increase from the previous month.

The 2024 U.S. presidential election is driving significant business for Polymarket, with the presidential winner market attracting $147.4 million worth of bets so far.

The platform’s CEO, Shane Coplan, announced the company’s $45 million Series B round on May 14, with blockchain-focused VCs ParaFi and Dragonfly and Ethereum’s chief scientist Vitalik Buterin participating.

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