Polymarket, a banned gambling platform prone to manipulation, is currently showing skewed odds regarding the upcoming 2024 presidential election. Recent Emerson College polls indicate a close race between Kamala Harris and Donald Trump, yet Polymarket's prediction markets show Trump leading with 60% odds, while Harris trails at 39%. This discrepancy has raised questions about the validity of Polymarket as a reliable indicator. A few accounts have invested over $30 million in Trump bets recently, pushing the market significantly in his favor. Though historically, Polymarket has accurately predicted outcomes like Biden's 2020 victory, its current stance on presidential election bets remains precarious. Meanwhile, amidst the legal landscape, Polymarket is not attempting to re-enter the US market following a recent case where a competing platform won the right to offer betting on Congressional races. The SEC is also appealing a court decision favorable to Ripple, bringing more regulatory scrutiny to the crypto space. Despite these challenges, Polymarket has achieved significant trading volume, breaking records in the current month, signifying its strong market presence despite regulatory barriers.

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