Polymarket, a crypto betting platform, has recently surpassed $1 billion in total trading volume, driven significantly by wagers on the upcoming US presidential election. In July alone, Polymarket recorded $343 million in betting volume, up from $111 million in June and $63 million in May. Speculation surrounding political events, especially the US election, has been a key driver of this increase, with substantial bets placed on the potential outcomes. Notably, Donald Trump currently leads with 60% odds, while Vice President Kamala Harris has seen her chances rise to 38% following President Joe Biden's withdrawal from the race​ .The platform has also expanded its payment options by partnering with MoonPay, allowing users to make transactions with debit and credit cards, as well as PayPal. This move aims to facilitate easier onboarding for users, particularly those new to crypto​ ​. Additionally, Polymarket recently closed a $70 million Series B funding round led by Peter Thiel’s Founders Fund, with Ethereum co-founder Vitalik Buterin among the contributors​.