Crypto & Blockchain Daily Brief Monday, July 22, 2024

PolyMarket, a prediction market platform, experienced a surge in activity as news broke that Joe Biden was dropping out of the US presidential race and endorsing Kamala Harris. The platform saw a significant increase in trading volume and activity related to the news. Users were able to bet on various outcomes related to the political situation, such as whether Biden would endorse Harris, which helped drive the surge in activity on the platform. PolyMarket allows users to trade on the outcomes of real-world events using blockchain technology. This means that users can buy and sell shares related to the likelihood of different outcomes, such as political events or sports results. The platform uses a token called POLY, which is used to facilitate trading on the platform. The news of Biden dropping out and endorsing Harris was significant for the US political landscape, and it had a direct impact on the betting markets on PolyMarket. Users were able to capitalize on the news by making trades based on their predictions of how the situation would unfold. The surge in activity on the platform highlighted the growing interest in prediction markets and the potential for blockchain technology to revolutionize the way we engage with real-world events. Overall, the article discusses how PolyMarket experienced a surge in activity following news of Biden dropping out of the presidential race and endorsing Harris. The platform allows users to trade on the outcomes of real-world events using blockchain technology, and the news had a direct impact on the betting markets on the platform.

Joe Biden, a former U.S. Vice President, has announced his withdrawal from the 2020 presidential race. Biden cited his disappointing performance in the Iowa caucuses as a factor in his decision to withdraw. He expressed gratitude for the support he received from his family, friends, and staff throughout his campaign. Biden's decision to withdraw comes after a series of disappointing results in the early primary contests. His campaign was overshadowed by other Democratic candidates, such as Bernie Sanders and Pete Buttigieg, who gained momentum in the race. Despite his withdrawal, Biden expressed confidence in the future of the Democratic party and its ability to defeat President Donald Trump in the upcoming election. Biden's withdrawal marks the end of a long political career that began in the 1970s. Throughout his time in politics, Biden served as a U.S. Senator from Delaware and later as Vice President under Barack Obama. Despite his withdrawal from the presidential race, Biden's legacy in American politics remains significant. As the race for the Democratic nomination continues, Biden's withdrawal leaves the field open for other candidates to compete for the opportunity to challenge President Trump in the general election. The remaining candidates will now focus on upcoming primary contests in states across the country, each vying for the chance to secure the Democratic nomination.