The vice presidential debate on Tuesday night brought a significant shift in the betting odds on Polymarket, a cryptocurrency-based prediction market. Before the debate, Minnesota Governor Tim Walz (D) was the favorite with a 72% probability of winning. However, as the debate unfolded, Republican Senator JD Vance (R-Ohio) gained momentum, with the odds dramatically shifting in his favor.
By the end of the hour-long debate, Vance had overtaken Walz, and the odds now comfortably favor the Republican at 69%. Over $850,000 was wagered on the outcome of the debate, demonstrating the high level of interest in the event.
While Polymarket has emerged as a prominent platform for predicting U.S. elections, it is ironically inaccessible to U.S. users due to federal regulations. Despite this, the platform continues to garner attention for its insights into the potential outcomes of elections.
The debate saw Vance and Walz clash on a range of critical issues, including the economy, geopolitical tensions, and immigration. This clash followed the presidential debate last month, where Democratic nominee Kamala Harris was declared the winner over Republican challenger Donald Trump.
While the vice presidential debate has significantly impacted the odds on Polymarket, the presidential race odds remain relatively unchanged. Harris continues to hold a slight lead over Trump on the platform.
The vice presidential debate offers a valuable glimpse into the strategies and positions of the candidates and highlights the key issues that will be at the forefront of the upcoming election.
