Polymarket emerged as a leading betting platform by focusing on the US elections, but for most participants, it turned out to be highly risky.
Successes and Losses of Polymarket Users
Polymarket became famous for large-scale winnings, with player Freddi9999 earning $47M by betting on Donald Trump's victory. However, due to the betting structure, 89% of users faced losses. After the election results, only 14.3% of participants were in profit, while 85.7% incurred losses.
Structure and Dynamics of Polymarket Bets
Each bet on Polymarket involves opposing tokens on the Polygon network, with prices constantly fluctuating based on player actions. Some large players use multiple wallets to avoid price changes and market manipulation. Polymarket's open interest fluctuates, depending on closed bets, reaching 339M.
Future of Polymarket After Elections
After the elections, Polymarket gained recognition and plans to continue on new markets, including expectations surrounding Trump's presidency. The platform is closely tied to social media, where new bets and research are discussed. Initially, trading volumes were at 371M after the elections, but dropped to 37M after bet settlements.
Polymarket gained attention as a leading betting platform, showcasing both opportunities and risks for users. Future bets depend on the sustained interest in political and social events.
