Polymarket's top bettors, ranked by profit and volume, have favored election-related narratives in a record-breaking month for the prediction market platform.
What Happened: Polymarket reported August as a breakout month, with trading volume spiking to over $400 million—an all-time high.
Undertaker, the top trader by volume with over $48 million traded, holds $123,000 in positions. Bama124 has made almost $1 million in profit in August, with $1 million in outstanding positions. JustKam ranks second in both volume and profit, with over $45 million traded and $350,000 in profit.
The top two volume traders heavily bet on Vice President Kamala Harris winning the popular vote. Undertaker is up 532.4% from betting on Donald Trump to win the 2024 election and Bama124’s highest stake involved a $308,935 bet against JD Vance to be replaced as Republican VP nominee.
Also Read: Donald Trump Takes Betting Market Lead Over Kamala Harris Following RFK Jr.s’ Exit
Ethereum co-founder Vitalik Buterin has praised prediction markets like Polymarket for their potential to involve the public in collective forecasting of significant events.
Polymarket, the largest on-chain prediction market, boasts JustKam as its highest trader by volume and profit since joining in January 2022, holding positions totaling $2.7 million and profits of $2.3 million, with a traded volume of $254.3 million.
The trader’s biggest positions are an almost $500,000 stake on Kamala Harris to win the 2024 election and a $150,000 stake on Kamala Harris and Tim Walz to run as the Democratic ticket on election day.
What’s Next: The influence of prediction markets is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.
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