Polymarket Adds US Election Odds to Bloomberg Terminal

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. Polymarket Integration in Bloomberg Terminal
  2. Reactions and Impact on Prediction Markets
  3. Comparison with Other Prediction Platforms


    4. Bloomberg LP has announced the addition of Polymarket's US election odds to the Bloomberg Terminal, reflecting the growing interest in blockchain-based prediction markets, especially with the upcoming US presidential election.

    Polymarket Integration in Bloomberg Terminal

    Polymarket, built on the Polygon blockchain, allows users to bet on various events, including elections, by pooling their judgments to set odds. Michael McDonough, Chief Economist, Financial Products at Bloomberg LP, confirmed the addition, stating:

    "We are in the process of adding Polymarket data to WSL ELECTION!"

    Polymarket operates on the concept of the wisdom of the crowd. Users bet on different outcomes, and their combined opinions help set the odds.

    Reactions and Impact on Prediction Markets

    This market has gained traction, with nearly $760 million in trading volume for the presidential election at press time. The odds show Donald Trump is slightly ahead of Kamala Harris, with Trump holding a 50% chance of winning, and Harris close behind at 48%. These odds change rapidly based on trader sentiment and outside political developments. For instance, Trump's odds recently jumped to 53%, showing bettors' increased confidence in his chances of returning to the White House.

    Comparison with Other Prediction Platforms

    Compared to other prediction markets like PredictIt, Polymarket usually has more liquidity and offers a wider variety of bets. PredictIt often gets flak for limiting how much people can bet and how many can participate, which can tamper with its accuracy. Polymarket, on the other hand, has higher trading volumes and fewer rules, creating a more flexible market that could lead to better predictions. But Polymarket also had its slip-ups. In Pennsylvania, for example, the odds for a Republican win tanked from 61% to 0% as the results rolled in, showing a big gap between what the market expected and what actually happened.

    The integration of Polymarket data into the Bloomberg Terminal provides analysts and investors with a new tool for gauging the outcome of the upcoming elections. This collaboration demonstrates the growing interest in blockchain-based prediction platforms and their relevance in the context of current economic and political events.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Investigation into Binance Theft Reveals Complexities in Cryptocurrency Tracing

Elliptic's investigation into the October Binance theft reveals complexities in tracing stolen cryptocurrency assets, highlighting challenges in identifying recipients and the need for compliance.

user avatarTenzin Dorje

Elliptic Reports $124 Million in Stolen Assets Converted to Bitcoin

Elliptic reports that approximately $124 million of stolen assets from the October Binance breach have been converted into Bitcoin.

user avatarAisha Farooq

Coinbase Launches Integrated Services for Token Issuers

On November 5, Coinbase launched a new integrated platform for token issuers, offering services from sales to custody, aiming to streamline operations and reduce reliance on multiple providers.

user avatarBayarjavkhlan Ganbaatar

Canary Staked INJ ETF Now Trading on Nasdaq

The Canary Staked INJ ETF began trading on Nasdaq under the ticker INJC on November 5, offering exposure to the Injective token and staking rewards.

user avatarMohamed Farouk

Nigeria's Central Bank Unveils New Regulations for Virtual Assets

On November 5, 2023, Nigeria's Central Bank announced a new licensing framework for non-security virtual assets, including stablecoins, aimed at enhancing consumer protection and financial system integrity.

user avatarElias Mukuru

US Economy Adds 165,000 Jobs in October

The Bureau of Labor Statistics reported that the US economy added 165,000 jobs in October, with the unemployment rate stable at 4.1%, complicating expectations for quick monetary easing by the Federal Reserve.

user avatarDiego Alvarez

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.