U.S. Election Betting: Polymarket ‘Manipulation’ Claims Miss the Mark
The manipulation narrative is an attempt by mainstream media to discredit Polymarket’s election odds and control the narrative, one expert said.
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The manipulation narrative is an attempt by mainstream media to discredit Polymarket’s election odds and control the narrative, one expert said.
Investors in crypto and traditional markets bet that impending U.S. presidential election will breed price volatility.
Patronis hit out at crypto skeptics during a CNBC interview on Thursday, saying that those not paying attention to crypto were making a “mistake” and suggesting that Miami could become the “crypto capital of the world”.
The final stretch of the U.S. presidential election is keeping traders on their toes, with BTC and Trump Polymarket odds taking a small hit.
Bitcoin’s “bullish setup” into the U.S. election next week mirrors late 2020, which preceded a 120% rally in two months, Matthew Sigel of VanEck said.
Low liquidity led to massive slippage for one entity trying to buy up Trump “yes” shares in a short period.
In just three weeks, Kalshi’s presidential prediction market has passed $30M in volume. It still trails Polymarket’s $2 billion.
Republican control of the Senate would be key to passing bills such as FIT21 and appointing pro-crypto agency leaders, and digital asset reform would likely happen sooner with both chambers aligned, the report said.
Just over 792.36 million tokens of a 20 billion target have been sold since its hushed started at 12:40 UTC on Tuesday, raising nearly $11 million for the project.
A token sale for World Liberty Financial was active earlier on Tuesday before the site crashed.