• Polymarket bet for the 2024 US presidential election winner has crossed $1 billion mark
• Kamala Harris leads the prediction market with 51% odds of winning and a nearly $154 million bet placed on her success
• Donald Trump follows with 48% winning odds and a bet around $163 million
Polymarket, a decentralized prediction platform, saw the bet for the next United States president cross $1 billion. The wager is a composite of numerous people Polymarket bettors believe will become the next president.
Kamala Harris Leads the Prediction Market
The most likely candidate is Vice President Kamala Harris, with a prediction of 51% chance of winning and a nearly $154 million bet placed.
Donald Trump Follows Closely Behind
Next up is Republican presidential candidate Donald Trump, amassing around $163 million wager for a 48% chance of winning the election according to the platform.
Other Low Odds Candidates
However, Polymarket users placed money on other outcomes. They placed $65 million on another Republican candidate winning, though that has a 1% chance of success. In addition, there are low odds of other Democratic candidates like Michelle Obama, Nikki Haley, Robert F. Kennedy Jr. and others nabbing the presidency.
Total Prediction Market Size
In total, the prediction market for the winner of the US presidential election hit $1,000,122,251 as of Sept 24.
Other Top Markets
Predictions based on the Nov 5 election dominate Polymarket. The second and third largest prediction markets deal with the winner of the popular vote, amassing a $225 million bet favoring Kamala Harris, and which state will be the tipping point for the 2024 presidential election, with Pennsylvania leading an overall $23 million wager.
Conclusion
The election helped Polymarket surge in popularity this year, with the platform raising $45 million in May and considering a token launch aiming to garner an additional $50 million. The Block previously reported.
