Polymarket, a unique website where people use ‘crypto‘ (digital money) to guess and bet on different events, had a massive month in June. They placed over $100 million in bets, which is the most they’ve ever had!
This significant jump happened because people were making many bets about President Biden. He could have done better in a recent debate, where he and others running for President talked and argued about their ideas. Many people, including some who usually support him, like The New York Times, started asking if he could be President.
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- Polymarket had a record-breaking month in June with $100 million in bets, mainly due to debates about President Biden’s performance.
- Shares on Polymarket suggest there’s a 44% chance Biden will step down from running for President, which has led to many more people placing bets.
- Boeing’s spaceship is stuck at the International Space Station because of some problems. Polymarket thinks there’s only an 11% chance the astronauts will leave the station on this spaceship by July 21.
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Polymarket Skyrockets Amid Election Controversy: A Record $100 Million Month Unveiled
After the debate, Biden’s chances of becoming President dropped significantly. On Polymarket, people started betting that Biden might step down, so he would stop trying to be President. The cost to make this bet went up from 19 cents to 44 cents, which means a lot of people think there’s a good chance this might happen.
On Polymarket, if you make a guess and it turns out to be correct, you get $1. The 44-cent price means that people think there’s a 44% chance Biden will step down.
One person who goes by “Therealbatman” has made the biggest bets. They have placed $2.9 million in bets on different political events, mainly betting that their parties will choose Biden and Trump to run for President.
On the other side, the person who has made the biggest bet that Biden will step down, who is only known by a code called an Ethereum wallet address, has bet $184,000 on this happening.
People are also guessing how much Bitcoin, a kind of digital money, will cost. Some think it will be more than $61,000 by July 5, but others think it might go down.
In other news, a Boeing spaceship is stuck at the International Space Station because of engine leaks. People on Polymarket think there’s only an 11% chance the astronauts will leave the station on this spaceship by July 21.
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