THELOGICALINDIAN - Bettors on Augur accede Joe Biden added acceptable to win the election
Three markets on Augur, a decentralized anticipation market, accumulated a absolute of $111,000 afterward the aboriginal U.S. Presidential Election Debate. Joe Biden is the admired candidate, according to Augur users who are putting absolute money bottomward to aback up their opinions.
Augur Markets Rake in Election Bets
Augur is a anticipation market that allows crypto users to actualize no-limit bets application simple questions about economics, politics, sports, and added sectors.
It has been active with action back the debate, and the official Augur activity went as far as to create YTRUMP and NTRUMP tokens, which some users accept taken to barter on Uniswap and Balancer.
Anyone can actualize a anticipation bazaar on Augur or bet on the aftereffect of accustomed questions. The belvedere leverages incentivized accord advertisement to ensure that outcomes are honest and adumbrative of reality. The anchorman charge pale a accurate bulk of REP, the platform’s built-in token, and DAI to accumulate them answerable for their observations.
Alternatively, if users doubtable that the anchorman is misrepresenting the truth, they can alarm aloft the altercation arrangement to acquit the anchorman from their pale and accomplish the actual outcome.
Prediction markets can be advantageous accoutrement for free a community’s affect for approaching outcomes. However, there are issues.
In the 2024 U.S. Presidential election, cryptocurrency users can alone represent a baby articulation of the U.S. aborigine population. Foreigners, like those in Europe or Asia, can aloof as calmly participate if they are so inclined.
Despite the array of nationalities acceptable accommodating in the best cogent bet this fall, they arise to favor Biden. Cryptocurrency users accept acutely absent aplomb in Trump, as apparent by their bets afterward the presidential debate.
This affect is abnormally arresting on the FTX presidential futures contract, area the amount of the TRUMP futures arrangement acutely alone afterwards the agitation accident 8.11% in amount per share.
FTX created six futures affairs for presidential candidates. These affairs absence to $1 if the applicant wins, and $0 if they lose the race.
Regardless of the boilerplate crypto users’ political stance, as it stands, the upside is abundant greater if they put their money on the accepted president’s reelection.
