Polymarket recently resolved its Presidential election contract, a significant market that introduced prediction betting to a wider audience, with a hefty volume of $3.6 billion. The contract closed just before 11 AM ET, shortly after major networks like the Associated Press and NBC declared Donald Trump the winner of the election.

The resolution process mandated that multiple reputable news sources call the election, with Fox News being the first to declare Trump's victory.

In the lead-up to the resolution, on-chain data indicated that a French financial services professional known as Theo was the top winner, pocketing more than $47.5 million from various betting markets, including the election contract itself. Meanwhile, another Polymarket member, 'zxgngl', earned $11.4 million.

Despite the success of Polymarket’s election contract, some experts urge caution regarding the predictive accuracy of such markets. Rajiv Sethi from Columbia University's Barnard College emphasizes the need for comprehensive data analysis to assess the efficacy of prediction markets compared to traditional polling methods. He advocates for further research into factors impacting market predictions such as transaction visibility and participation constraints.

As of early November, over 73.8% of Polymarket’s activity was linked to election-related betting.