Members polymarket Bets are being placed on the future mayor of New York City, with the total amount of bets reaching $303,797,754.
Bets on Zohran Mamdani are trading at 95% implied odds: 95,5 cents for a yes, 4,6 cents for a no. The contract’s turnover was approximately $75,399,890, with the odds approaching 100%.
New York City Mayoral Election. Source: polymarket
Andrew Cuomo has a 4% margin of victory (4,1 cents for «yes» and 96,1 cents for «no»), with a total of $18,356,111 raised.
Other competitors are unpopular, as their stocks have plummeted to near zero. The odds of Curtis Sliwa, Bitcoin proponent Eric Adams, and Jim Walden are trading below 1%.
Traders are currently focusing almost exclusively on Mamdani. Of course, prediction markets aren’t surveys, but they do aggregate the real money positions of thousands of traders, who dynamically adjust their odds as news breaks.
With Mamdani currently at 95% and his closest competitor barely at 4%, the crypto markets are making it clear that the race is over.