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Polymarket to face regulatory action over foreign betting on U.S. elections by end of 2024?
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Resolution / Starting Odds
Yes • 50%
No • 50%
Official announcements from regulatory bodies such as the Commodity Futures Trading Commission (CFTC) or the Securities and Exchange Commission (SEC)
Story
Trump's Election Odds Soar to 62% as Polymarket Bets Near $100 Million; Holds Rally in Georgia
Oct 23, 2024, 05:44 PM
Betting markets are increasingly favoring former President Donald Trump to win the 2024 U.S. Presidential Election over current Vice President Kamala Harris. On the political betting platform Polymarket, foreign accounts have fueled speculation over large bets on a Trump victory, with four major accounts placing $46 million in bets. The collective potential payout if Trump wins rose from $30 million on Friday to nearly $43 million on Monday, and a Trump whale on Polymarket now holds over $40 million in positions, potentially pulling in nearly $100 million if Trump wins. Betting odds show Trump with a 62% chance of winning compared to Harris's 38%. Polymarket has also cracked down on US users as election odds soar in favor of Trump. Additionally, Trump held a rally in Zebulon, Georgia, drawing significant crowds. During his closing message, he stated, "I will bring down costs, I will secure the border, and I will end the threat of World War III."
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