Polymarket Sees $1 Billion in Presidential Bets

The decentralized prediction platform Polymarket has witnessed its bets for the next United States president surpass $1 billion.

This total includes various individuals placing bets on who they believe will emerge as the next president. Currently, the leading candidate is Vice President Kamala Harris, with a 51% chance of winning and approximately $154 million wagered on her.

Following her is Republican candidate Donald Trump, who has garnered around $163 million in bets, reflecting a 48% chance of securing the presidency according to Polymarket’s data.

In addition, users have placed $65 million on another Republican candidate, despite that option holding only a 1% chance of winning. Other candidates receiving bets include Michelle Obama, Nikki Haley, and Robert F. Kennedy Jr. Overall, the prediction market’s total for the upcoming U.S. presidential election reached $1,000,122,251 as of September 24.

Most predictions focus on the November 5 election, with the second and third largest markets regarding the winner of the popular vote—totaling $225 million in bets favoring Harris—and which state will be the tipping point for the 2024 election, where Pennsylvania leads with $2.3 million wagered.

This election has significantly boosted Polymarket’s popularity, leading to $45 million raised in May, as they explore a token launch aimed at raising an additional $50 million, according to previous reports from The Block.