A new Polymarket user, with the Ly67890 username, placed a massive bet on Vice President Kamala Harris, increasing her odds on the market prediction platform.
Ly67890 bought $2 million worth of “Yes” shares for the Democrat presidential runner just 11 days ahead of the U.S. elections, according to data from Polymarket. Most of the bets were worth less than $1,000 and only six were worth over $100,000.
This bet is already worth $2.153 million as Harris’ chance increases to 39.9% from its local bottom of 35%.
Thanks to the large bet from Ly67890, the total amount of bets on Harris surpassed the $500 million mark.
However, the Republican candidate Donald Trump is still leading with a 60.1% chance of winning the presidential race, per Polymarket data.
The total betting volume on the next U.S. president is currently at $2.63 billion and Trump is leading with $783 billion.
It’s important to note that the Polymarket data doesn’t decide the U.S. presidential election winner.
Per a crypto.news report, the crypto community has been driving the odds in Trump’s favor while the platform isn’t even allowed in the U.S. as it violates the securities regulation.
One of the main reasons behind the crypto community’s limited interest in the Democrat candidate is the poor regulation during the Biden-Harris Administration.
Read the full article here