Polymarket Hires Nate Silver After Taking in $265M of Bets on U.S. Election: Report
Summary
Crypto-based prediction market platform Polymarket has hired statistician and writer Nate Silver as an adviser. Silver has a history of providing forecasts on U.S. elections and also analyzes baseball and basketball. Polymarket has seen significant business on this year's presidential race, with $265 million already placed on the election. The platform shows Donald Trump as the favorite with a 70% chance of winning. Polymarket, founded in 2020, has raised $70 million from investors including Peter Thiel's Founders Fund and Ethereum creator Vitalik Buterin. The company plans to start charging fees for transactions on the platform. So far, Polymarket has taken in over $400 million of bets covering politics, pop culture, sports, and science.
