Polymarket user bought $2m of ‘Yes’ shares for Kamala Harris

A new Polymarket user with the username Ly67890 increased his chances on the market prediction platform by placing a big bet on Vice President Kamala Harris.

Ly67890 purchased $2 million worth of “Yes” shares for the Democratic presidential candidate just 11 days before the US election, according to Polymarket data. Most of the bets were worth less than $1,000, and only six were worth more than $100,000.

That bet is already worth $2.153 million as Harris’ odds have risen from a local low of 35% to 39.9%.

Bets on the next US president – ​​October 24 | Source: Polimarket

Thanks to the big bet from Ly67890, the total amount bet on Harris exceeded $500 million.

However, according to Polymarket data, Republican candidate Donald Trump is still ahead with a 60.1% chance of winning the presidential race.

Total betting volume on the next US president currently stands at $2.63 billion, with Trump leading the way with $783 billion.

It is important to note that Polymarket data does not determine the winner of the US presidential election.

According to a report by Crypto.news, while the crypto community is tilting the odds in Trump’s favor, the platform is not even allowed into the US for violating securities regulation.

One of the main reasons behind the crypto community’s limited interest in the Democratic candidate is poor regulation during the Biden-Harris Administration.