The 2020 Elections Are Boosting Crypto Prediction Markets

Polymarket Trading Volume Growth Prediction markets, where users can bet on the outcome of future events, are a key application of Decentralized Finance (DeFi), which allows users to conduct financial transactions with low fees and without a middleman. Elections and political debates attract high numbers of traders to these platforms; decentralized prediction platform Augur launched five years ago, but struggled to take off until U.S. midterm election betting gave it a push in 2018.

Anonymous crypto betting platform YieldWars launched its election battle last night and has since attracted over $50,000 in bets. The platform has partnered with Everipedia to use Associated Press (AP) election data for resolving its election betting market.

Timeline of Augur, Everipedia