Polymarket betting volume for US presidential election winner crosses $2 billion

The betting volume for who will win the 2024 United States presidential race crossed $2 billion on the decentralized prediction platform Polymarket.

The prediction market for whether presidential candidates Kamala Harris or Donald Trump will win amassed $1 billion in just 23 days, after crossing its first billion on Sept. 24, The Block previously reported .

As of Oct. 17, Republican candidate Trump maintains nearly $608 million in betting volume with a 62.3% chance of winning on Polymarket . Democratic candidate Harris has $405 million with winning odds of 37.5%.

The U.S. 2024 presidential election has been the largest driver of growth on Polymarket, especially as the Nov. 5 election approaches in just 19 days. Just halfway through the month, Polymarket's monthly volume for October climbed 113.7% to reach $1.14 billion compared to September's $533.5 million, The Block's Data Dashboard shows.

Polymarket previously raised $45 million in Series B funding in May of this year, with plans to raise an additional $50 million and even launch its own token.