CandleFocus Whales Won Millions Betting on Trump, But 86% of Polymarket Traders Have Lost Money
2024-11-07
Author: Content Editor
Polymarket, a prediction market platform, gained significant popularity during the U.S. election, with over $2.5 billion in trading volume in October and more than $1.2 billion in November. However, despite its growing reputation for accuracy, data shows that the majority of users have actually lost money. Analysis reveals that 86% of accounts have a negative profit and loss margin, indicating incorrect bets or selling at a loss. The average bet size on the platform is relatively small. Additionally, Polymarket is facing an investigation by France's National Gaming Authority due to allegations of potential non-compliance with gambling legislation.
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