The blockchain-based prediction market Polymarket saw impressive growth in July, with the number of bets surpassing 1.5 million. This surge coincides with heightened interest in the U.S. presidential elections.
According to Dune Analytics, Polymarket’s total number of bets since launch has reached 5.29 million. Additionally, the cumulative bet trading volume has exceeded $1 billion, with July alone seeing a 219% increase to $355.23 million.
Betting on the U.S. elections has been substantial, with $439 million wagered. Notably, Donald Trump has a 57% chance of winning, backed by $54 million in bets, while Kamala Harris holds a 39% chance with $38.5 million wagered.
In a strategic move, Polymarket partnered with MoonPay to enable non-crypto users to participate. This growth underscores the platform’s increasing relevance and potential long-term impact on prediction markets.
