Crypto gamblers stake record $445million on outcome of US presidential race

Election betting on Polymarket is at an all-time high due to the staggering $445 million that cryptocurrency gamblers have put down on a possible presidential contest involving former President Donald Trump and Vice President Kamala Harris. In July, Polymarket's total wager amount increased to $1.03 billion from $672.94 million in June. Harris increased the Democrats' chances of winning from 18% to 38% in the week after Joe Biden withdrew from the Democratic contest. Trump maintains a sizable lead with a 59% chance of winning the election, and Polymarket Whales strongly support him despite Harris's recent gains.