U.S. 2020 election boosts use of decentralized prediction markets
November 3, 2020, 2:47PM EST
1 min read
The 2020 U.S. election has been a boon for decentralized prediction markets, according to data compiled by The Block Research.
On Augur, open interest recently passed $4 million, primarily driven by Catnip.exchange, a simple end-user interface for Augur's U.S. election market. According to The Block researcher Mika Honkasalo, open interest on Augur has been steadily increasing by over $1 million or 25% daily, leading up to election day.
Polymarket, a popular newcomer in the prediction markets space, also benefited from the U.S. election, with its election-related markets receiving over $3.5M in trading volume on Polymarket V2 — roughly 91% of total volume on the platform.
This piece has been updated to clarify that data for Polymarket is based on the Polymarket V2 prediction market
The Block Research was commissioned by Forte to create “Blockchain-Based Gaming: A Primer” which provides a comprehensive introduction to how blockchain technology is being employed in video gaming experiences.