With the approval of the Bitcoin spot ETF by the SEC approaching a crucial moment, speculation on this event is strong on the illegal decentralized gaming platform Polymarket. Data shows that the probability of the Bitcoin spot ETF passing before January 15th is 85%, and trading volume has also exceeded $2.5 million.
As the US Securities and Exchange Commission (SEC) approaches the critical window period for approving the first Bitcoin spot ETF from January 8th to January 10th, cryptocurrency investors are all paying attention to the market trend. The illegal decentralized gaming platform Polymarket shows that the probability of the Bitcoin spot ETF passing before January 15th is 85%.
Most users bet that the spot ETF will pass before January 15th
Trading volume exceeds $2.5 million
It is understood that users can use their own funds on Polymarket to predict the outcome of specific events, similar to placing bets. Polymarket’s feature is that it adopts a price mechanism that does not require a bookmaker to set odds and operates the platform more decentralized.
The specific way that Polymarket allows users to place bets is based on the concept of options. If users purchase a positive option (currently priced at $0.85) and the spot ETF passes before January 15th, the value of your option will become $1; if it does not pass, the value of the option will be zero. Of course, users also have the possibility to purchase reverse options.
With the market speculation sentiment soaring, the trading volume of this predicted event has reached the top of the financial leaderboard and the fourth place in the uncategorized category, reaching $2.54 million.
Trading volume ranks fourth among all events on the platform
Taiwanese people’s bets may violate the law
It is worth noting that recently, the presidential election in Taiwan has also become the target of the illegal platform Polymarket. There are rumors in the community that many people have been summoned for investigation by prosecutors and investigators for participating in the betting on Polymarket.
Currently, after actually accessing the domain, it was found that the Criminal Investigation Bureau has blocked the website. Therefore, cryptocurrency users need to be vigilant and avoid getting involved in illegal online gambling activities. The above data is only one of the references for analyzing whether the spot ETF will pass.
Taiwan’s Criminal Investigation Bureau blocks the website
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