Data: Only 12.7% of user wallets on Polymarket are profitable

According to reports, data from the decentralized prediction market platform Polymarket shows that only 12.7% of user wallets are profitable. The data indicates that out of 171,113 participating wallets, only 21,730 made a profit. Most users earned less than $100 in profits and only 2,138 wallets earned more than $1,000. Despite this, interest in world events on Polymarket remains high with current open contracts totaling $161 million. Elon Musk has suggested that Polymarket could potentially predict the results of the US presidential election in 2024 more accurately than traditional polls.