CandleFocus Manipulation alert on Donald Trump vs. Kamala Harris prediction market
2024-09-07
Author: Content Editor
The prediction market Polymarket has become popular for predicting the outcome of the US presidential election. However, recent research suggests there may have been an attempt to manipulate the outcome of a derivative bet. The investigation found that a group or individual tried to manipulate the bet on the "Presidential Election Winner" by buying derivatives shares and betting on Kamala Harris, causing the price to momentarily change. However, the manipulation attempt failed, resulting in the entities losing over $60,000. Polymarket is a cryptocurrency-based prediction market that offers bets in the regulated dollar stablecoin USDC. It is currently favoring Donald Trump to win the election with a 50% chance of victory. While prediction markets can be useful for insights, they are also prone to manipulation and do not guarantee any outcome.
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