Polymarket has $7 million bet on Biden's withdrawal from the US presidential election

The bets on decentralized prediction market platform Polymarket on Joe Biden dropping out of the US presidential race have exceeded $7 million. After the first debate for the 2024 US presidential election against Donald Trump, the odds of Biden dropping out have skyrocketed to 38%. Meanwhile, the largest political pool on the website - a bet on the election winner - shows that Trump has a 63% chance of winning in November, with a total bet of $191 million. Despite being a convicted criminal and awaiting sentencing in July, the former president remains popular among bettors.