The idea that tech mogul Elon Musk may start his own political party this year is finding some backing from cryptocurrency bookmakers.
What happened: The odds that the Tesla and SpaceX CEO would create a political party in 2025 rose to 17% on the decentralized prediction market Polymarket. In fact, the probability that he launches a party as early as June was 7% as of this writing, up 2% in the last 24 hours.
More than $416 million has already been wagered on the June bet. Should Musk make an “explicit” official announcement, the market will resolve to “Yes.”
Polymarket, based on Polygon (CRYPTO: POL), allows users to buy “Yes” and “No” shares in USD …