GoKawiilPolymarket's Ethiopia and related election markets rack up $600M in trades after voting ended
Analysis of Polymarket's offshore platform found two global election markets generated over $600 million in trading volume, with most activity concentrated on long-shot candidates who lost. In Ethiopia's election, where incumbent Abiy Ahmed won decisively, only $173,000 was bet on his victory while more than $41 million was traded on his chief of staff winning instead, part of over $285 million wagered overwhelmingly on losing outcomes. Former Polymarket trader Chris Park found that roughly $284 million of that volume came from pairs of accounts repeatedly trading with each other.