Polymarket is scanning for US users as election odds skew toward Trump: Report
Polymarket is verifying the locations of users making significant bets on the U.S. presidential election to ensure compliance with its ban on U.S. users. Concerns arose that U.S. residents might be using VPNs to bypass restrictions. Approximately $2.3 billion has been wagered in Polymarket's "Presidential Election Winner 2024" market, favoring Donald Trump (63.7%) over Kamala Harris (36.2%). Whale "Fredi9999" has placed over $20 million on Republican outcomes. Trump also leads on Kalshi at 60%. Despite this, most voter polls show Harris ahead. Kalshi's founder asserts Polymarket's results are accurate, noting larger median bets on Harris. Mark Cuban believes most bets on Polymarket are from overseas, questioning their reflection of U.S. voter sentiment. Polymarket previously settled with the U.S. commodities regulator for offering unregistered markets.
