Polymarket User Bets $2 Million on Kamala Harris Ahead of Elections

A new user on Polymarket, under the username Ly67890, has made a significant bet on Vice President Kamala Harris, purchasing $2 million worth of “Yes” shares, which has boosted her odds on the prediction market platform just 11 days before the U.S. elections.

According to Polymarket data, most of the bets placed on Harris were under $1,000, with only six bets exceeding $100,000. Following this large wager, Harris’s odds have increased to 39.9%, up from a recent low of 35%. The bet from Ly67890 is now valued at approximately $2.153 million.

Thanks to this sizable investment, total betting on Harris has surpassed $500 million. However, former President Donald Trump remains in the lead, with a 60.1% chance of winning the presidential race, as per Polymarket's figures.

The overall betting volume for the next U.S. president currently stands at $2.63 billion, with Trump leading at $783 million. It's essential to note that Polymarket's data does not determine the actual winner of the U.S. presidential election.

Reports indicate that the crypto community has been influencing the odds in Trump’s favor, even though Polymarket itself is not accessible in the U.S. due to securities regulation violations. One reason for the limited interest in the Democratic candidate from the crypto community may be attributed to perceived regulatory challenges during the Biden-Harris administration.