Polymarket Founder Denies Platform’s Political Agenda Amid Rising Election Interest
As the US presidential election draws near, the cryptocurrency prediction market platform Polymarket is in the spotlight, but its inventor says the company has no plans to be seen as a political website. According to Polymarket creator Shayne Coplan‘s Oct. 25 X post, the objective has been to use the power of free markets to demystify the real-world events that are most important to you from the company’s founding.
Polymarket is not about politics. The vision never was to be a political website, and it still isn’t. Unfortunately the story is much less juicy, we’re just market nerds who think prediction markets provide the public with a much needed alternative data source. Polymarket is strictly non-partisan. We get told we’re Dem operatives and MAGA, depending on the day.
Coplan
Polymarket’s Popularity Surges as Musk Calls Prediction Markets More Reliable Than Polls
He clarified that as the November US presidential election approaches, the platform has gained prominence, asserting that people are tired of trying to make sense of experts and contradicting surveys. Politics, according to Coplan, is the first step toward making the general public recognize the importance of forecasts based on the market.
Polymarket’s rise in popularity correlates with correctly forecasting Biden dropping out,
Coplan
Technology billionaire Elon Musk recently generated a surge of interest in Polymarket after claiming the website could more accurately forecast the outcome of the 2024 US presidential election than conventional polls, according to a Cointelegraph story published on October 7. Donald Trump was ahead of Democratic contender Kamala Harris by almost three percentage points at the time of Musk’s post.
Trump now leading Kamala by 3% in betting markets. More accurate than polls, as actual money is on the line,
Musk
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