Polymarket Volume at All-Time High with Record $100 Million of Predictions in June and $8.2M in Trading Volume On Day of Debate

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Jul 02, 2024, 14:43 ET

Polymarket's Prediction Market Soars Amidst 2024 Debate Night Speculation, Biden's Odds Plummet in Real-Time

NEW YORK, July 2, 2024 /PRNewswire/ -- Polymarket, the world's largest prediction market, hit an all-time trading volume high in the month of June. The platform saw over $100M of predictions made, taking its total for the year to over $360M. On the day of Thursday's U.S. presidential debate, Polymarket saw >$8M of predictions made and now holds over 85% market share of election betting worldwide.

While stock markets remained closed and polls were yet to be conducted, Polymarket captured immediate, massive shifts in public sentiment around the general election and Democratic nomination:

Throughout the course of the debate, Biden's odds of winning the 2024 presidential election plummeted from 34% to 22%, while Trump's skyrocketed to 64%.
Biden's odds of dropping out of the race surged from 22% to 43%.
Increasing speculation around Democratic challengers also garnered traders' funds and attention, with odds that Gavin Newsom steps in for Biden climbing to 6%.

Polymarket didn't just report on the debate; it became a crucial part of the experience. While commentators and pollsters alike scrambled for clarity, Polymarket's data provided a source of truth. The internet took note, as various voices and personalities declared Polymarket the "winner of debate night," while major publications included insights in their reporting.

Unlike social media feeds influenced by algorithms and media outlets with potential biases, Polymarket's numbers are derived from the trading activity of people with varying perspectives, synthesizing information available to them. This collective input created an unbiased and honest reflection of public perception during an unprecedented historical moment, grounded in financial stakes.

"Seeing Polymarket become the de facto source being cited and discussed during the debate was a humbling experience," said Polymarket CEO and Founder, Shayne Coplan. "As price movement on Polymarket became synonymous with the impact of the debate itself, the benefits of having prediction markets on politics were underscored to millions of people following along in real-time. Polymarket's ability to make instant sense of breaking news proves that, as we reach critical mass, truth is now more accessible than ever."

In an era where political noise is the norm and unbiased transparency is nearly impossible to come by, debate night demonstrated that Polymarket is becoming a source of real-time truth to spark informed discussions worldwide. As the 2024 election grows closer, Polymarket will continue to ground politicians and media outlets alike in reality from minute to minute.

About Polymarket
Polymarket is the world's largest prediction market. On Polymarket, traders predict the outcome of future events and win when they are right. As traders react to breaking news in real-time, market prices are the best gauge of the likelihood of events occurring. Institutions, individuals, and the media rely on these forecasts to report the news and better understand the future. Across politics, current events, pop culture, and more, a record $360m worth of predictions have been made so far on Polymarket in 2024.

SOURCE Polymarket