Care to make a bet? 🎲 Activity on the popular decentralized prediction markets platform Polymarket reached an all-time high in May as users rushed to speculate on the upcoming US elections.
According to Dune Analytics, the platform saw over $63M worth of trading volume across its prediction markets last month, representing a 62% increase compared to April 2024.
Polymarket also saw an influx of new users, more than tripling its user base to 13,600 speculators since the start of the year.
A large part of the platform's success thus far has been the surging popularity of prediction markets centering on the US elections.
In fact, their prediction market for choosing the next presidential winner has already attracted over $149M in wagers.
Most speculators are currently putting their money on Trump to get a second term, with users forecasting a 56% chance of that actually happening. Editor's Note: For those who haven't caught on yet, prediction markets are essentially just another form of gambling. In typical fashion to sports betting, you could lose your money easily if the outcome doesn't go your way. On the other hand, you don't have to lock in a wager on prediction markets to earn a profit - you could simply wait till the odds tilt in your favor before selling your shares or lose partially by exiting early. | 
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