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Polymarket faced a major stress test last night—and passed with flying colors as the platform become an essential source of sentiment tracking for those closely following vote counts.
What's the Scoop?
- Huge Volume: Over the past two days, Polymarket saw over $300M in transaction volume, with more than 85% coming from users betting on the election.
- Mainstream Adoption: Polymarket didn’t just climb the charts on Apple’s App Store; its CEO, Shayne Coplan, also revealed that Trump HQ was using Polymarket.
Bankless Take:
Polymarket not only demonstrated the potential to augment traditional polling done by large media outlets but also highlighted the power of Web3. UMA facilitated accurate settlement of election bets with Donald Trump’s win, while 
Polygon handled the surge in traffic seamlessly. While discussions continue about the election and Polymarket’s massive volume, most people remain unaware that this was all powered by crypto.
I just got word that the Trump campaign HQ literally found out they were winning from Polymarket.
— Shayne Coplan (@shayne_coplan) November 6, 2024
History was made today.
Surreal
