A Polymarket contract betting against candidate Mamdani has seen a significant loss, dropping nearly $1 million as the NYC election progresses. The contract, which reflects odds on Mamdani’s performance, indicates a strong sentiment among bettors that he will not succeed in the election. This substantial decline in value emphasizes the volatility and uncertainty inherent in political betting markets. As the election date approaches, traders on platforms like Polymarket continue to adjust their positions, responding to shifting political dynamics and public opinion. The situation highlights the unpredictable nature of betting in political contests, where early forecasts can change dramatically.
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Last updated on November 5th, 2025 at 07:59 am
