Americans trade $571M in political bets on Polymarket

U.S. users have traded $571 million in political bets on the prediction market platform Polymarket over the past year, despite being officially banned from accessing the site, CoinDesk reported, citing on-chain analytics firm Allium. According to Allium's analysis, the trading volume from U.S.-related wallets was the largest of any country, surpassing Hong Kong's $422 million. Although Polymarket blocks U.S. users based on their IP addresses, access is possible using a VPN and a crypto wallet. The firm also found that 46% of political bets from U.S. users focused on geopolitical issues, higher than the overall average of 36%, with bets related to a potential war with Iran being particularly prominent.