Polymarket Raises $70M, Traded $350M in US Election Predictions, $256M in Bets

Polymarket, a crypto-based prediction market, has raised over $70 million and traded more than $350 million in predictions on the US election. The platform, which focuses on elections, has $256,754,117 in bets on the US elections. Polymarket is seen as a superior alternative to traditional polling, as it aggregates dispersed information and provides real-time signals of momentum shifts in political events. The Wall Street Journal's @bzcohen highlights that everyone tracking Polymarket could see the momentum of the US political game shifting in real time. The platform's potential extends beyond politics, with possibilities in sports and reality TV betting.