The post dYdX launches Trump prediction market perpetual ahead of U.S. elections in November appeared on BitcoinEthereumNews.com.

The U.S. election is the most anticipated political event in the world and is scheduled for November 5. dYdX Foundation has incorporated a perpetual market on its trading platform based on the upcoming elections to mirror Donald Trump’s performance when the ballot has been decided.  Futures trading platform dYdX announced the incorporation of a new perpetual market dubbed Trump Prediction Market Perpetuals on its trading platform. The perpetual market will allow traders and speculators to place advanced market order variants on Donald Trump’s candidacy. The traders will place these orders to speculate whether Donald Trump will win or lose the 2024 US presidential elections.  dYdX launches Trump Perpetual Market The dYdX Foundation incorporated the Trump Prediction Market Perpetuals on the trading platform after successfully going through the governance process by the dYdX community on October 9th. The perpetual markets will allow dYdX users to place trades speculating the election results in a decentralized and non-custodial way. The market will also give the traders a chance to increase their position sizes and expand their exposure at any time. Traders who believe Donald Trump will win the 2024 elections will take long positions on the market, while those who think Trump will not win the election will take short positions. Traders whose political insights align and their predictions fall true after November 5th have the potential to make great returns. The Trump Perpetual Prediction Market has a perpetual leverage trading feature that allows users to capitalize on leverage to increase their trading power and hold trades without timelines. Users will also have the option to adjust their positions based on the changing election trends. The perpetual market has risk management tools The perpetual market also supports risk management protocols and tools to allow traders to execute their political insight trades with caution.…

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Filed under: News - @ October 14, 2024 11:26 pm