Prediction markets and political circles are reeling from Joe Biden's shocking decision to withdraw from the 2024 presidential contest. Following the announcement, the most popular decentralized prediction platform, Polymarket, saw an unprecedented increase in wagering activity. A record high of $28 million was reached in daily trading volume, indicating increased volatility and interest in the upcoming election.
A wider frenzy on contracts related to elections is occurring concurrently with the record-breaking activity on Polymarket. Bets on political markets have exceeded $500 million.
A wider frenzy on contracts related to elections is occurring concurrently with the record-breaking activity on Polymarket. Bets on political markets have exceeded $500 million.