Rollercoaster US Election Floods Crypto-Betting Site With Wagers

The turbulent US presidential election has flooded crypto betting site Polymarketwith so many wagers that it’s upgrading the platform to handle soaring volumes of incoming funds.

Polymarket will start incorporating software from Miami-based MoonPay that will allow users to pay for their bets using bank transfers and credit cards, the companies said on Wednesday. Bettors currently buy stablecoin USDC on a crypto exchange and transfer it to Polymarket before making wagers.

Driving the frenzied betting is an election that’s already seen one candidate — Donald Trump — survive an assassination attempt, shortly before incumbent Joe Biden bowed out ...