Orhan 
Elon Musk, one of the richest people in the world, recently tweeted about Polymarket, a decentralized prediction market platform built on Ethereum that allows users to bet on the outcomes of real-world events. This tweet comes at a critical time as the U.S. elections heat up, with Donald Trump’s campaign gaining new momentum.
At a rally in Pennsylvania, Musk shared the stage with former president Donald Trump, calling this election “the most important one of our lifetime,” expressing his support for Trump. Musk’s involvement has seemingly energized Trump’s supporters even more.
Following Musk’s public endorsement, data from the decentralized prediction market platform Polymarket shows a 3% increase in Trump’s chances of winning the election, now sitting at 51%.
In his tweet, Musk commented:
“Trump is now trailing Kamala by 3% in betting markets. More accurate than polls because real money is at stake.”
What is Polymarket?
Polymarket is a decentralized prediction market platform that operates on the Ethereum blockchain. It allows users to place bets on the outcomes of various real-world events using cryptocurrency. Utilizing blockchain technology and smart contracts, Polymarket offers predictions on a wide range of events, from political elections to sports results and economic indicators. Through Polymarket, users can make predictions on real-world events while benefiting from the transparency and security of decentralized systems.
Musk’s tweet has drawn significant attention to the platform, emphasizing the increasing interest in alternative data sources like prediction markets over traditional polls.