The U.S. presidential race between Donald Trump and Kamala Harris is heating up.

Crypto’s leading prediction market tripled its monthly volume in July as traders took full advantage of the platform's versatility.

Election markets have already driven more than $235 million worth of wagers on the platform.

A key indicator shows traders started aggressively betting Arbitrum’s ARB token would be airdropped hours before the token distribution was announced.  On March 15, a day before the airdrop went public, traders on prediction market Polymarket started placing more bets that the airdrop would happen before March 31.  “Yes” shares spiked as high as $0.72…

Polymarket has complied with a CFTC settlement and blocked U.S. residents from its prediction market.

The CFTC ordered Polymarket to pay a penalty and shut down markets that were unlicensed as swaps.