Polymarket promises ‘drops’ to users who reinvest their winnings

⚠️ Polymarket , A Famous Betting Crypto Platform, To Give Airdrops? ⚠️

As For Today, Polymarket Has Secured Total Of $74 Million Funding , Including From Vitalik Buterin

🖼️RuggedPikachu#Polymarket #Airdrop… pic.twitter.com/KbSBajzeJ8

According to Dune Analytics, the betting platform’s trading volume peaked on November 6th at $371 million. The trading volume has since declined after the elections. Dune Analytics shows the platform recorded a trading volume of $54.5 million on November 7th and $63.4 million on November 8th.

French betting regulator threatens to ban Polymarket in France

Polymarket’s popularity grabbed the attention of lawmakers who have threatened to ban the platform. The Big Whale, a local media outlet in France, reported that the National Gambling Authority of France has launched investigations into Polymarket’s operations and may soon ban the platform in the country.

One particular French user, identified as Theo, fueled the regulator’s scrutiny after netting $80 million from a $45 million stake in the winning candidate, Donald Trump.

Leading financial data and news outlet Bloomberg LP announced plans to incorporate the Polymarket’s election odds into its terminal. The crypto betting site operates on the Polygon network. The platform allows users to bet on a wide range of event outcomes while leveraging transparent on-chain data. Polymarket relies on smart contracts for trade ution and automated payouts.

The blockchain betting firm conducted a Series B round from investors and raised $45 million earlier this year. Prominent figures who participated in the funding include PayPal co-founder Peter Thiel and Ethereum co-founder Vitalik Buterin. The platform’s Series A round received $25 million from investors such as crypto-investment firm Polychain and Airbnb co-founder Joe Gebbia.

Vitalik Buterin’s recent blog post, dated October 9th, referenced Polymarket as an info finance platform. According to Buterin, Polymarket provided information and facilitated financial activities (betting) to top users in the just-concluded U.S. elections. Vitalik also emphasized that Polymarket’s info finance concept could transform decentralized autonomous organizations (DAOs) and how they operate.