Prediction Markets Abuzz with Election Speculation, Tech Bets
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Prediction Markets Abuzz with Election Speculation, Tech Bets
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On Polymarket, the highest volume market remains the 2024 US presidential election, where the question of whether Donald Trump will win has surged in activity over the past 48 hours. The "Trump to win 2024" contract is now trading around 52 cents, up from 48 cents just two days ago. This four-point jump comes amid news of a slight polling bump for Trump in key swing states, and after a fundraising rally that brought in over 50 million dollars in a single weekend. On the other side, the “Joe Biden to win” market is tilting downward, falling from 47 cents to 45. The narrowing spread between the two candidates reflects the tight-lipped caution many forecasters are applying right now, given economic uncertainty and upcoming debate schedules.
PredictIt is seeing unusual movement in the "Republican VP nominee" market. Tim Scott saw a sudden surge from eight to 21 cents, driven by rumors that he was being vetted more seriously than previously expected. Nikki Haley, once the frontrunner, dipped slightly from 29 to 25 cents. The spike for Scott seems particularly surprising given how quiet his public appearances have been lately. Pundits suggest the campaign may be testing his name recognition among Black voters and evangelicals, two key blocs for Trump. This jump from low single digits to the twenties in less than 48 hours is raising eyebrows and recalibrating expectations within the market.
Over on Metaculus, the more academically driven crowd is fixated on AI timelines. The probability that an AI system will be capable of passing a Turing-style verbal reasoning exam by the end of 2025 has moved up from 41 percent to 48 percent. This change is largely in response to the publication of a new benchmark test by researchers at Google DeepMind, which suggests models like Gemini could be within range of this milestone within the next year. This is a relatively significant shift for a Metaculus forecast, where moves tend to be more gradual due to community deliberation and input weighting.
A broader trend emerging among all three platforms is the resurgence of interest in crypto-native prediction tools. As volume declines on PredictIt slightly due to regulatory pressure and Metaculus remains focused on long-term forecasting, traders seem increasingly drawn to the immediacy and liquidity of Polymarket’s USDC-based markets. We’re also seeing more niche questions getting traction. For example, markets asking whether Apple will release a foldable iPhone in 2025 or if Elon Musk’s xAI will outperform OpenAI by year’s end are gaining unexpected attention. These bets may seem speculative, but they’re attracting serious volume, hinting at a growing appetite for tech-oriented wagers from younger traders who are less interested in traditional political outcomes.
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