The post Polymarket Is “Good” But Critic Picks Out This One Big “Ethical” Problem appeared on BitcoinEthereumNews.com.

Polymarket, the predictions market on Polygon, is drawing global attention. Not only is it among the most active dapps without their token, but it is also closely being monitored by pollsters tracking the ongoing presidential campaign in the United States. In the hotly contested campaign, the current vice president, Kamala Harris, is battling with Donald Trump. The former president lost to Joe Biden in 2020 but now wants to take over. Is Polymarket Misleading Punters? Looking at Polymarket, Trump has extended his lead over the past few days. Punters place the probability of Donald Trump winning at 61% versus 39% for Harris. Donald Trump versus Kamala Harris | Source: Polymarket Interestingly, the Presidential Election Winner 2024 market has an overall volume of over $2 billion. As big as this may appear, one analyst thinks Polymarket is misleading people and doesn’t want to reveal the true open interest. Open interest is the total number of outstanding contracts in Polymarket’s numerous markets. This metric is used as a gauge to measure liquidity and interest. By the analyst’s estimation, its open interest stands at around $200 million, rising from around $100 million in the past 30 days. Cycling over to DeFiLlama, the portal has a total value locked (TVL) of just $211 million—and this is what the dapps manage, including all other active markets. Polymarket TVL | Source: DeFiLlama This figure is far less than the $2 billion in volume the Presidential Election Winner 2024 posts as of October 18. At over $211 million, the Polymarket TVL is at near all-time highs, rising from less than $50 million in April. Despite this rapid growth, the prediction market’s liquidity is not as deep as expected. Transparency Questions Emerge The analyst who pointed out this discrepancy is blasting Polymarket developers for fronting volume rather than…

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Filed under: News - @ October 18, 2024 10:18 pm