Data: The betting amount on the outcome of the U.S. presidential election on Polymarket has surpassed $400 million, with whales favoring Trump

ChainCatcher news, according to CoinDesk, within a week of President Joe Biden stepping down as the Democratic candidate, his running mate Kamala Harris has effectively doubled the chances of the Democrats taking the White House, rising from 18% to 38%. Harris's progress in the Polymarket poll seems to be due to small individual bets entering the market.

However, Trump supporters appear to be more confident: the top five holders on the "yes" side of the Trump contract collectively hold 9.1 million shares, which would turn into a $9.1 million payout if Trump wins. Meanwhile, the top five holders on the "yes" side of the Harris contract collectively hold 4.7 million shares. Overall, the amount bet by traders on Polymarket regarding the presidential election outcome has reached $423 million.