Polymarket bettors put $ 1.1 billion in volume on the outcome of the Superbowl, which saw the Philadelphia Eagles beat the Chiefs of Kansas City 40-22, while the Paris platform continues to win Steam, despite regulatory obstacles.
Polymarket has become avenue Go To for having placed betting on a chain, which carried out a meticulous examination of regulators. Some countries have squarely prohibited Polymarket, while the American Committee Futures Trading Commission (CFTC) wishes to access data from the customers of the platform.
According to the lawyer for the crypto Aaron Brogan, the argument that prediction markets, like Polymarket, are simply a web3 version of the game is an inaccurate characterization.
Brogan, said that unlike the traditional Paris platform, the prediction markets make money on transaction costs rather than users.
Whatever the challenges, the polymarket is booming and the bettors earn or lose large sums of money.
Merchants are hard on sports betting
In Polymarket Analytics chain shows that a merchant going through the “Abouted” handle has won a profit of more than $ 550,000 from their bets on the Eagles. The data show that this user has a global benefit of just over a million dollars, mainly betting on sport.
On the other side of the trade, a bettor by the name of Hubertdakid, which lost $ 718,633 by betting against the Eagles. This merchant seems to be down their luck on Polymarket, with a global loss of $ 638,177.
Other superbowl contracts on Polymarket included one on the number of times Taylor Swift would be posted on the diffusion and another on the duration of the performance of the national anthem.
Overall, the lifetime volume of sports contracts on Polymarket has successfully achieved $ 6 billion. It is more than the volume on the American electoral markets, which arrived at $ 5.2 billion according to Polymarket Analytics.
