Polymarket is an information markets platform that lets you bet on the world’s most highly-debated topics (ie Coronavirus, Politics, the news, etc), and turns the trading activity into actionable insight that helps people make better decisions for their future.
On June 16, 2020, the Polymarket Beta was launched out of stealth, and the growth we’ve seen in the last few months has been massive. While we all knew the Beta was good, we also knew it wasn’t the finished product, and that the Polymarket team was hard at work improving their product. Then, they announced Stage 2 of their Beta.
Stage 2 brings with it a lot of changes that are very worth discussing. Here are some of them:
Unlimited Free Trades
One of the main upgrades in Stage 2 of the Polymarket Beta is that they have made transactions completely free for every single user. Zero fee deposits, unlimited free trades, and free withdrawals are all coming to Polymarket. Other platforms take hefty fees every time you deposit money, trade on a position, win a prediction, or cash out. Every step of the way, these platforms are taking away your gains. None of that happens on Polymarket. That means that there is nothing standing between you and participating. It’s your insights and predictions, get the full returns from your predictions.
Debit and Credit Card Deposits
Cryptocurrency and blockchain believers consider the widespread adoption of these technologies to be very, very close. The one common opinion shared by these believers is that an elegant and dynamic user interface and a low level of required technical knowledge is the one thing standing between the current state of affairs and complete cryptocurrency and blockchain dominance.
Stage 2 of the Polymarket Beta introduces debit and credit card deposits. This allows nearly anybody to participate. Polymarket’s competitors require their users to have significant cryptocurrency, blockchain, and other technical knowledge in order to participate. Polymarket uses all of the advantages of being built on blockchain and utilizing cryptocurrency, but without any of the complex technical drawbacks that makes it difficult to use for most people. This ease of use upgrade will undoubtedly see Polymarket’s popularity explode.
No-Limit Trading and 10x Liquidity
If you’re already an Information Markets fiend, you are probably already aware of some of the issues that other Information Market platforms are dealing with. One major issue is imposed trading limits and caps. Put simply, other platforms prohibit you from trading as much as you would like to. Polymarket doesn’t do this, making it the much more appealing option for existing Information Market traders. Similarly, presenting ten times the previous liquidity is likely to be a major pull for existing traders.
Let’s not forget the main reason why Information Markets are so exciting for people: they offer you unique markets to trade on and fun new ways to challenge yourself and your friends. The November 3 presidential election is the most talked about topic in the United States at the moment, and that includes a once-in-a-century global pandemic. Polymarket has been running many exciting Information Markets relating to the presidential election and the hype surrounding it. In the lead up to the first debate, Donald Trump accused Joe Biden of using performance-enhancing drugs on Twitter. Whether or not he would use that angle of attack during the debate was up the air, however. And so, Polymarket ran an Information Market titled “Will Trump accuse Biden of being on drugs during the 1st 2020 Presidential Debate?”.
Rather than Polymarket’s competitors, who largely run uninteresting Information Markets on cryptocurrency prices, Polymarket instead chooses to run more markets on topics that people are actually interested in.
The 2020 Presidential Election is mere weeks away, and we all want to know who’s going to win. While we can’t see the future (yet), a good way of getting insights before and after November 3 is on Information Markets platforms like Polymarket. Since they act as aggregators of information, they are much more useful and less stressful than watching the news. Plus, you can make money while you’re at it, and an increasing number of people are choosing to spend their debate nights and election nights on Polymarket. If things don’t go your way, you might as well get a nice chunk of change out of the deal.