Bull market whales increase Trump's election odds, raising concerns of manipulation

2024-10-18 19:34:43

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ChainCatcher news, according to Cointelegraph, as the U.S. presidential election approaches, the behavior of top bettors on Polymarket has raised concerns about the potential manipulation of prediction markets. Former President Donald Trump's odds of winning the 2024 U.S. presidential election are rising, largely influenced by a Polymarket user "Fredi9999," a major bettor holding over $20 million in pro-Trump wagers.

Alex Momot, founder and CEO of Peanut Trade Company, stated that Trump's expanding lead raises questions, as it seems unrelated to events in the real world that could explain shifts in public opinion.

Currently, Trump's odds on Polymarket have risen to 60.2%. Analysts point out that this market dynamic could influence public perceptions of the election outcome and emphasize the need to assess the manipulation of prediction markets.

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