Authored by Zoltan Vardai via CoinTelegraph.com,
Former United States President Donald Trump’s lead on the top blockchain-based betting market is nearing 67% as a mysterious whale continues to bet on his victory in the upcoming presidential election on Nov. 5.
Trump’s odds of winning the election surpassed 66.3% on the leading decentralized predictions market on Oct. 28, according to Polymarket data.
Presidential election winner 2024, one-month chart. Source: Polymarket
Trump’s odds increased after a Polymarket whale, or large holder, invested another $2 million worth of USD Coin USDC$1.00 tokens into pro-Trump bets.
The mysterious whale has spent $7.22 million on “Yes” shares, according to onchain intelligence firm Lookonchain, which wrote in an Oct. 28 X post:
“Since Oct 11, the whale has spent 7.22 million $USDC to buy 11.28 million ‘Yes’ shares on Donald Trump winning the US election, with an unrealized profit of $256,000.”
With only seven days until the 2024 US presidential election, decentralized prediction markets may offer more accurate predictions than traditional polling systems, according to billionaire Elon Musk.
The Polymarket odds flipped in Trump’s favor on Oct. 4, marking a sharp reversal from September. By