30s Summary

Crypto-based prediction market, Polymarket, started a new bet on who will be inaugurated as president, separate from its existing bet on who would win the election. The “winner” is based on calls from Associated Press, Fox News, and NBC, but if there’s no agreement by Inauguration Day, the winner will be whoever gets inaugurated. The “inaugural” bet will be determined on Inauguration Day. Some people are concerned about potential changes of winners with these methods but the heightened stakes add to the intrigue.

Full Article

Ok gather round folks, let’s talk crypto and politics. Polymarket, a crypto-based prediction market, made a new bet just before the U.S. presidential election about who will be the next president. Now, you might be asking, didn’t they already have a bet on that? You’re not wrong!

Polymarket already had a big bet running about who will win the election and it’s been getting a lot of attention and action. On this bet alone, about $3 billion has been traded and there’s easily over $200 million worth of bets still up in the air.

So why the new bet? Well, apparently there’s a difference between who “wins” and who gets “inaugurated.” And here’s where things could get really interesting – like what happens if the election results aren’t clear right after the polls close? Or if there’s some big dispute over who won?

Anybody who knows anything about U.S. politics knows that these are real possibilities. We’ve all seen how wild things can get, don’t even get me started on what happened at the Capitol back in January.

So Polymarket is saying that the “winner” bet will be based on calls from 3 media outlets – the Associated Press, Fox News, and NBC. But, if for some reason they can’t agree on a winner by Inauguration Day, then it’s all about who actually ends up getting inaugurated.

This new bet, the “inauguration” bet, is a bit simpler: it’s basically just going to wait until Inauguration Day to decide. But what happens if nobody’s inaugurated by then? Well, then it sounds like all the people betting “no” will be laughing all the way to the bank.

Is any of this the best way to go about it? Well that’s up for debate. Some folks like that Polymarket’s “winner” bet might get settled sooner, but others worry what happens if a media outlet changes its mind. With all the potential drama and uncertainty, it’s not hard to see why these stakes are a big deal. Any way you slice it, it’s clear that when it comes to betting on politics, things never quite go down easy. But hey, that’s what makes it exciting, right?