According to the Dune Analytics dashboard created by Richard Chen, a general partner at 1Confirmation, Polymarket’s trading volume in June has surpassed $110 million, marking a 77% growth compared to May. The number of monthly active users reached 29,432, a 116% increase, setting the highest record since the project’s inception. **
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The significant increase in Polymarket’s interaction data is absolutely related to the US presidential election. Currently, the highest-staked prediction topic on the Polymarket platform is the 2024 US presidential election, with total bets exceeding $200 million. In addition, the top-ranking prediction topics are almost all related to elections. **
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Anastasija Plotnikova, CEO and co-founder of Fideum, stated: “As of writing this article, Polymarket users believe there is a 63% chance of Trump winning. However, since Polymarket’s user base mainly comes from the cryptocurrency community, the prediction results presented by a specific group may not reflect the overall opinion.”
Despite the increasing adoption of Polymarket, following the previous Taiwan presidential betting case, Polymarket has been targeted by Taiwanese law enforcement and identified as a gambling site, prohibiting Taiwanese users from accessing the domain. **
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