1 month ago
Polymarket, a starring prediction marketplace platform, has seen a important spike successful website traffic, outpacing salient DeFi platforms similar Uniswap, dYdX, Compound, and GMX.
The surge is chiefly driven by aggravated involvement successful betting connected the US statesmanlike election, peculiarly connected the imaginable face-off betwixt erstwhile President Donald Trump and Vice President Kamala Harris.
Polymarket growth
Recent information shows Polymarket’s regular mean visits reaching an awesome 296,515, with users spending an mean of 6 minutes and 46 seconds per sojourn connected Polymarket.
In comparison, Uniswap, the closest rival successful presumption of traffic, records 134,309 regular mean visits with a sojourn duration of 5 minutes and 21 seconds. Meanwhile, the 2nd and 3rd largest DeFi platforms recorded lone a fraction of the visits, with lone GMX breaking the 10,000 bar.
Polymarket’s cumulative stake measurement soared to $1.03 cardinal successful July, up from $672.94 cardinal successful June, according to Dune Analytics. This marks a important summation compared to July 2023, erstwhile the cumulative stake measurement stood astatine $283.16 million.
The emergence successful bets follows high-profile quality events, including Harris’s anticipated Democratic information and an assassination effort connected Trump, the starring Republican contender, earlier this month.
Trump vs. Harris betting frenzy
The anticipation of a Trump-Harris showdown has captivated Polymarket users. In the week pursuing President Joe Biden’s withdrawal from the Democratic race, Harris’ likelihood of winning the Democratic information more than doubled from 18% to 44%.
Trump remains the favored campaigner among large-scale bettors, maintaining a 53% accidental of winning the election. However, his likelihood fell from 59% aft his quality astatine the National Association of Black Journalists (NABJ).
Polymarket’s interactive representation and trending marketplace investigation uncover a dynamic and heavy contested predetermination season.
Republicans are currently favored to power the presidency and the Senate, portion Democrats are expected to clasp power of the House. Meanwhile, cardinal battleground states amusement a premix of support, with Republicans starring successful Arizona, Georgia, and Pennsylvania and Democrats holding Michigan.
The station Polymarket postulation surpasses DeFi giants amid Trump-Harris predetermination betting craze appeared archetypal connected CryptoSlate.
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