Zohran Mamdani won the high-stakes New York City mayoral race Tuesday, a victory widely anticipated by cryptocurrency bettors, who had overwhelmingly backed the Democratic Socialist.
Prediction Markets In Mamdani’s Favor
Mamdani, the 33-year-old progressive state representative, had a 100% chance of winning the election on Polymarket, surging past his closest competitor, former New York Governor Andrew Cuomo. Over $400 million has been wagered on the outcome.
Another Polymarket contract had assigned a 70% probability that Mamdani’s winning margin would fall between 10% and 20%.
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