Watch In Full: Trump versus Biden in the first US Presidential election debate
Biden vs. Trump: US elections boost prediction markets
Trading on prediction markets jumped at least five times amid the results of the US presidential election
The final outcome of the presidential race remains to be seen
Ethereum co-founder noted the power of prediction markets as opposed to surveys and statistical models
Presidential elections in the United States affected the popularity of prediction markets, whose capitalization jumped sharply by the final day of voting
The US presidential election has increased the amount of capital in the prediction markets. At the time of this writing, Polymarket’s trading volumes on Trump’s re-election for a second term are close to $ 6 million.
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It is noteworthy that the growth in trading activity was recorded not only on Polymarket, but also on other prediction markets. Renowned blockchain prediction platform Augur reports its fifth consecutive record in terms of trading volume through the Catnip platform.
At the same time, open interest in the Augur version 2.0 protocol since the beginning of August has grown from $ 20 thousand to almost $ 4.5 million..
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Vitalik Buterin, co-founder of the Ethereum cryptocurrency ecosystem, has already unsubscribed about the effectiveness of prediction markets.
“Regardless of who wins, I’m sure this time around the prediction markets were more accurate than polls / [statistical] models,” Buterin wrote on his Twitter page..
Prediction markets are essentially the same stock markets created for the purpose of trading the results of events. Market prices can indicate how likely the outcome of an event is.
Meanwhile, Trump has already announced his readiness to go to the Supreme Court if it is necessary to resolve the issue of the election results. At the time of writing, Democratic candidate Joe Biden is 1.3% ahead of the current US president.
Earlier, experts from the South Korean cryptocurrency exchange Bithumb said that if Biden wins, the decentralized finance (DeFi) market will be under tough pressure from regulators..
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