- Bloomberg is adding election odds data from the crypto prediction market Polymarket to its Terminal platform
- Polymarket is a blockchain-based prediction market built on the Polygon network, allowing users to bet on various event outcomes
- Polymarket has emerged as a popular platform for tracking real-time odds on the 2024 U.S. presidential election, with nearly $760 million bet on the outcome so far
The 2024 U.S. presidential election is still more than two years away, but prediction markets are already handicapping the odds of potential outcomes. One platform gaining particular prominence is Polymarket, a blockchain-based prediction market built on Polygon.
Polymarket’s Rising Popularity
Polymarket has emerged as the leading platform for real-time odds on 2024 election outcomes. In August 2022, its monthly trading volume approached $450 million according to Dune Analytics.
A total of nearly $760 million has been bet on Polymarket on the outcome of the November 2024 U.S. presidential election. As of August 29, Republican Donald Trump had 50% odds of winning versus 48% odds for Democrat Kamala Harris.
Polymarket is facing increased competition from rivals like Drift Protocol’s BET platform on Solana, which surpassed Polymarket in daily trading volume for the first time on August 29 according to Solana Floor.
Mainstream Adoption
The growing significance of Polymarket and other crypto prediction markets is underscored by financial data giant Bloomberg LP’s decision to integrate Polymarket data into its Bloomberg Terminal platform.
The Terminal provides data to over 350,000 institutional subscribers globally and controls roughly one-third of the financial data services market according to Wall Street Prep.
Alongside data from platforms like PredictIt, Bloomberg will display Polymarket odds for the 2024 presidential election outcome. This highlights the increasing mainstream adoption of decentralized platforms and crypto’s growing role in political prediction markets.
