Polymarket approaches $1 billion in bets for 2024 presidential election winner

The decentralized prediction platform Polymarket accumulated a nearly $900 million bet for the winner of the United States 2024 presidential election. 

U.S. Vice President and Democratic presidential candidate Kamala Harris leads the way with an estimated 50% chance of winning and a bet surpassing $127 million, according to the platform . Republican presidential candidate Donald Trump comes in a close second at 49% winning odds and a nearly $144 million bet. 

Trump had initially been leading Harris in the Polymarket bet, but Harris flipped Trump on Aug. 12 when the prediction market for the winner was $572 million, The Block previously reported. 

Beyond the candidates, Polymarket prediction markets focus on other aspects of the 2024 presidential election, such as the likelihood of Trump saying " crypto " or other words in the debate between him and Harris. To be sure, neither candidate mentioned cryptocurrency in the Sept. 10 discussion in Philadelphia.

The 2024 presidential election has largely contributed to Polymarket's explosive growth in the past few months. August marked Polymarket's highest-ever number of  active traders  and  monthly volume , bringing in 63,6200 and $472.84 million, respectively, according to The Block's Data Dashboard. The platform's cumulative volume sits at $1.75 billion as of Sept. 13.