Polymarket, which received a $45 million investment led by tech billionaire Peter Theil in May, enables high-stakes bets on major events using cryptocurrency. The platform claims that its prediction markets are often more accurate than pundits because they combine news, polls, and expert opinions into a single value that represents the market's view of an event's odds.
Polymarket writes that a huge amount was wagered on the US election: $1.3 billion on Trump to win, $827 million on Harris. In total, users spent $3.2 billion betting on the election.