Polymarket, a cryptocurrency betting platform, has chosen software from Miami-based MoonPay to allow users to create transactions via bank transfers and credit cards. This step is associated with the highly turbulent US presidential election that has stimulated the increased betting activity on Polymarket.
Election Fuels Betting Frenzy on Polymarket
Polymarket has had to enhance its infrastructure due to the high betting volumes that have been triggered by the ongoing US presidential election. This election, which was full of surprises like an assassination attempt on Donald Trump and Joe Biden’s dropping out of the race, has led to new record-high levels of betting.
Polymarket has witnessed a surge in trading, with a record $260 million in bets placed in July, more than one-third of the annual volume, as per Dune Analytics.
David Rosenberg, Polymarket’s Vice President of Strategy, attributed the rapid increase in the platform’s user base to the election’s volatility. So far,
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