Ethereum News Daily Official TheBitTimes.com

Summary ⚈ PSG favored 58.5% over Inter Milan in Polymarket’s crypto prediction market. ⚈ Nearly $1 billion in betting volume highlights crypto prediction market’s growth. ⚈ Small wagers dominate platform activity, showcasing accessibility in sports betting. Fans across the globe are eagerly awaiting the Champions League final, slated for May 31, between Paris-Saint Germain (PSG) and Inter Milan — and so is the crypto market. Like any sporting event of its caliber, the Champions League final has attracted plenty of betting interest. At present, the odds stand at 58.5% to 41.4% in favor of PSG, per data retrieved by Finbold from cryptocurrency predictions market platform Polymarket. As of the time of writing, the total betting volume regarding the outcome of one of the most highly anticipated football matches of the year stands close to $1 billion at $997,521,904. Champions League winner prediction market odds chart. Source: Polymarket Billion-do...

A single crypto wallet is trading tens of millions of dollars on Polymarket, a crypto-friendly prediction market. The trader, known by its social handle Fredi9999, has transacted over $73 million worth of mostly pro-Donald Trump bets and currently has $12 million on the line for Trump winning the election on November 5. Although higher frequency traders have transacted larger volumes on an absolute basis, Fredi9999 is the site’s most profitable crypto wallet this month and second-most profitable trader of all time. As the trader climbed the Polymarket leaderboard, it attracted media scrutiny for its political motivations. Specifically, some people believe that the trader’s wealth is creating a 5-8% ‘Fredi premium’ on Polymarket’s 2024 US presidential election market. Others estimate its impact at an even higher 13%. Because changing prices in liquid markets cause a variety of emotional and non-quantifiable changes in traders’ behavior, it is impossible to determine the exact impact...