Polymarket's top bettors, ranked by profit and volume, have favored election-related narratives in a record-breaking month for the prediction market platform.

What Happened: Polymarket reported August as a breakout month, with trading volume spiking to over $400 million—an all-time high.

Undertaker, the top trader by volume with over $48 million traded, holds $123,000 in positions. Bama124 has made almost $1 million in profit in August, with $1 million in outstanding positions. JustKam ranks second in both volume and profit, with over $45 million traded and $350,000 in profit.

The top two volume traders heavily bet on Vice President Kamala Harris winning the popular vote. Undertaker is up 532.4% from betting on Donald Trump to win the 2024 election and Bama124’s highest stake involved a $308,935 bet against JD Vance to be replaced as Republican VP nominee.

Ethereum co-founder Vitalik Buterin has praised prediction markets like Polymarket for their potential to involve the public in collective forecasting of significant events.

Polymarket, the largest on-chain prediction market, boasts JustKam as its highest trader by volume and profit since joining in January 2022, holding positions totaling $2.7 million and profits of $2.3 million, with a traded volume of $254.3 million.

The trader’s biggest positions are an almost $500,000 stake on Kamala Harris to win the 2024 election and a $150,000 stake on Kamala Harris and Tim Walz to run as the Democratic ticket on election day.

What’s Next: The influence of prediction markets is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.

• Read More