Intro but you can really see the monthly volume the active Traders right they really started to grow here in 2024 and really recently um both in July and August we've seen massive increases on this front um part of the reason could be because there's been some murmurs that they could be releasing a coin that there could be an airdrop coming soon so that could be driving a little bit of volume as well welcome back everybody to another episode of wagy TV uh we have a really special one for you today really fun Market which is a very interesting um platform that essentially uses crypto as an infrastructure to allow folks to place bets on different uh events different um things happening we'll walk through what that means here in a moment um but we're going to dive through some of the back end and some of the numbers we're seeing in terms of the growth of the platform and also just an overview of of how it all works and how you can actually get involved yourself um so with that I'll hand it over to uh so to to do a little bit of a background on what poly Market is and get us started let's hop right into it here um going to Polymarket Platform Overview share my screen take you guys through kind of what poly Market looks like and then we'll go and look at some of the the analytics and and check out how much these guys have really grown over the last couple of months but super impressive stuff over here so so basically what poly Market is it's a prediction market so if anybody has uh you know used the website predict it that was kind of one of the OG prediction markets it basically enables you to create a market for whatever outcome you want and have people wager mostly peer-to-peer uh on that outcome and so you can see here you know if you go to all on on the poly Market front end there's loads of different things that you can wager on everything from you know interest rate cuts to obviously the presidential election to you know you got some sports outcomes and stuff over here you can go to Super Bowl World Series all of the stuff that people have basically created these markets for and now you can go and and you can wager on it so let's say you wanted to to place a wager on on one of these outcomes right let's go to the the presidential election the most volume on this whole website uh has come from from this very one market and you can see it's almost you know all close to nearing a billion dollars in total volume for this market so what you would do here is like let's say you thought that uh you know a 52% chance of Donald Trump winning was underpriced let's say you thought that that was actually closer to 70 or 80% chance right you could come over here and you could just bet yes and what that would do is that you would basically enter into a position and if Donald Trump ended up winning at the end uh you know in November that odd would go from 52 to 100 and so you would basically double your money in in this particular Market similarly if you wanted to bet on Harris you could come over here and bet on her for currently 47 cents on the dollar similarly if she were to win in November November those odds would go to 100% when that uh when the outcome was actually uh done and resolved and that's when you would get um you know your payout now what makes this different from previous prediction markets is of course the use of of crypto and so this is one of the things that on this channel we're super excited about you know one of the first true kind of product Market fits outside of like decentralized exchanges and and lending and the other defi stuff we cover on this channel um so super exciting to see and so what happens here is you can actually come over here and you can place limit orders and amm orders now this is you know taking a page out of all the defi stuff that that we always talk about on this channel which is really the giving people the ability to provide liquidity to a given market and earn rewards and so that's what you can do here you can come in and um you know you can place basically um limit orders within a given market and you earn rewards for that and by by doing that you're basically making the market super efficient so that other Traders can come in and actually use the platform trade and execute uh where they want to now just a quick rundown um of the rewards uh page right here if you guys are curious this is where you can come and see kind of the daily rewards that you would be receiving for for providing liquidity on each of these markets don't need to go super in-depth on it uh if you guys want to learn more about it definitely uh comment down below um but that's basically a brief overview of poly Market super exciting stuff and uh it's really clear why these guys have really taken off and that's what we're gonna to dive into now with with kind of the analytic side of things yeah and it's it's just really Dune Analytics - User Growth interesting from just the market sentiment perspective right the the platform is really cool because I think it serves really as like a barometer of of public opinion really offers a lot of insights for investors in this case right betters right so you can see how people have been kind of really catching on to this I'll share a quick little Dune dashboard here as well um and I think it's no secret right defi is becoming more and more popular I know soam you sent a a Twitter post a little bit earlier today even to our little group chat of of folks talking about defi within the government right so defi is gaining some traction and to your point poly Market really aligns with the defi movement and as well as betting right betting has become extremely popular especially in theit States over the course of the last couple years but really we've seen a lot of this growth through um bet being able to bet on the the 2024 presidential election like we' just talked through but you can really see the monthly volume the active Traders right they really started to grow here in 2024 and really recently um both in July and August we've seen massive increases on this front um part of the reason could be because there's been some murmurs that they could be releasing a coin that there could be an airdrop coming soon so that could be driving a little bit of volume as well you can even see that even an active um daily active Traders here still continuing to grow just going up and to the right over the last couple weeks and couple days um but I thought this was really interesting just to see their explosive growth really within this year and to see how it just continues to go up obviously September we've just started um we're already you know almost up to 200 million which is crazy it's crazy to think about that but I know Evan maybe had a couple of uh pieces to talk through on this anything to add to to that yeah nothing too crazy you want to actually let me uh share really quick yeah go ahead um awesome I just want to Defi Llama Statistics share the defi llama essentially the dashboard for the prediction markets within crypto um let me zoom on out here but you know this isn't really a large market movement that's happening if you were to come down here and look at you know the tvls between different different apps poly Market is you know 10x 12x 15x higher than the other you know uh closest markets um and so this really isn't like a general movement in the market this is poly Market creating a far superior app to any of the competitors and really probably finding a use case um and aligning a great user experience with a use case uh like we really haven't seen before in crypto and in Defi and so yeah I think like we talked about you know poly markets really taking the role in betting as Vegas or you know most like DraftKings order books would have um you know they're really that they're they're substituting out Vegas and adding their users in um as you know when you create those limit orders those amm orders uh that's you taking Vegas's spot in that market and so it creates a more efficient market in that way you know you're able to uh you know not see the I don't know 10% 5% fee that Vegas takes on every bet taken away you know these are far more efficient markets so I think that's really cool and it's it's just another use case for defi in a in a market that you know honestly I don't think we've we've really seen yet so yeah pretty exciting stuff really yeah I think it's really really Discussion interesting and I think to I mean we watched Soom show how easy it is to use right in the beginning I think to Evans Point like they've it's clear on the tvl they've just built a superior product it's not like it's evenly distributed or even more evenly distributed than kind of that lops side of tvl we saw I think the biggest question that comes to mind for me especially looking at some of the charts that that we've seen is how much of the uh the trading volume and the active uses is driven by the election uh because if you you I mean if you look at the total bets I mean it's like 95% maybe more than 95% of the total bets placed on P Market are for the winner of the presidential election and a lot of the correlation of you know the Boost in open interests and and active Traders kind of corresponds with the election year like last six months is um so I'd be curious to see after the election if it just completely falls off or if it kind of retains uh the interests of people and maybe this is a great way to onboard new people to to you know create the interest in it and they continue to roll um regardless I think we see somewhat of a dip but it'd be interesting to see how much of a dip we see after the election on that yeah I love that I feel like you know whether it's election right now you could easily see it for the Oscars for The gramys for other big events that you see coming in the future that maybe like a DraftKings or FanDuel wouldn't cover um but that's a great call out totally agree anything else gentlemen no I guess just checking out this uh checking out this Dune dashboard again to your point right yeah they actually broke it down election and non-election yeah you can see the election in purple just the volume in general from the election is is massive in comparison to everything else whereas like back when you didn't have as many users or as many folks logging in right it was right around 5050 so to your point it'll be interesting to see what they do with that and another reason why maybe it' be helpful to do something like an airdrop or or you know release a token to get folks involved um you know sometime after the election but great points yeah love it all around love it Outro all around I know there's been uh we didn't get to talk too much about it I know there's been rumors of of an air drop or a token drop for po market so we'll keep tabs on that if anything um you know it becomes more clear we'll make sure to to put out some content around it but um obviously you know this was not Financial advice like you know bet at your own RIS you know there's no there's no guaranteeing any of those bets that we walk through but um again just a fun way to see how crypto infrastructure has a real world applicability and a real world use case where you know we have over a billion dollars being uh through this platform um you know we look at the actual betting volume so um yeah thank you guys for watching uh like comment subscribe let us know if you're going to check it out uh or if you've been on poly Market before we we'd love to hear it um and let us know who you're taking on some of those bets but um uh you know until next week uh wag me