Crypto prediction markets turn against Trump after first debate

Cointelegraph

Published Sep 30, 2020 10:45PM ET

Updated Oct 01, 2020 12:20AM ET

The first debate of the 2020 U.S. presidential election had no clear winner, but crypto-powered prediction platforms are having a field day.

Election futures on crypto derivatives exchange FTX boomed, with the platform’s CEO reporting more than $4 million in open interest trying to pick the winner between Democrat Joe Biden, and Republican Donald Trump. On FTX, Trump’s brash debate performance got a big thumbs down and drove a 10% crash in the price of futures contracts backing his re-election.

Price of TRUMP futures on FTX: FTX

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