Polymarket bookies made several bets whether the US Senate would confirm several nominations of President Trump.
Data of a prediction platform polymercate built on polygon showed $ 16.5 million in the trading volume for a market, titled “Trump Pix will be confirmed?”
So far, users have done correctly Predictive Pro-crypto hedge fund manager Scott Besant’s confirmation of Senate. President Trump chose Besant as an American Treasury Secretary, an important position that could affect the crypto-related privacy debate, including cases such as Tornado Cash.
Polymarket users have also bet on many other confirmations. However, notable crypto-centric candidates, such as Paul Atkins for Securities and Exchange Commission Chair, were absent from the list.
The on-chain Prediction Market was one of the previous year’s breakout platforms, allowing users to explain whether Donald Trump would win or lose.
While the traditional elections were reportedly slanting, polymercate users made accurate prediction of Trump’s victory. Bloomberg also integrated polymercate data in its election terminal.
A French bookie earned millions in the results of the result. However, French authorities later banned the site, and the FBI raided the residence of Polymarket, the founder of Polymarket amid rumors of unauthorized American betting participation. Palimarket is not regulated in the US and they do not allow Americans to use their services.
Despite the allegations of violating US laws, neither Koplan nor Polymarkat has been convicted by the Department of Justice. The platform is one of the largest blockchain-based prediction markets and the real world is a source of social spirit data.
