Trump Odds on Polymarket Hit Another All-Time High After Vance VP Pick

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Trump Odds on Polymarket Hit Another All-Time High After Vance VP Pick
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Marc Hochstein is the executive editor of Consensus, CoinDesk's flagship event. He holds BTC above CoinDesk's disclosure threshold of $1K and de minimis amounts of other digital assets (details on profile page).

Donald Trump's odds of retaking the White House in November hit another all-time high after he picked Sen. J.D. Vance as his running mate, traders on the crypto-based prediction market platform Polymarket are signaling.were trading at 72 cents mid-morning Tuesday New York time, indicating that the market believes the Republican nominee has a 72% chance of victory. Each share pays out $1 if the associated prediction comes true and bupkis if not.

The platform, founded four years ago, is riding high on enthusiasm for election betting, despite being closed off to the U.S. under a regulatory settlement.In prediction markets, traders bet on the verifiable outcome of real-world events within defined time frames. Wagers can be about anything from the, but proponents argue they have positive spillover effects for the public.

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