- FTX traders are still betting on the US elections.
- Despite the presidential election coming to an end, the crypto company is placing bets on Georgia’s January contest.
- So far, FTX traders believe the chances of the Democrats winning are 21.1%.
FTX traders are still betting on US elections
FTX traders are still betting on the US elections. Despite the presidential election coming to an end, the crypto company is placing bets on Georgia’s January contest.
So far, FTX traders believe the chances of the Democrats winning are 21.1%. The company has released a new contract for derivatives to bet on the outcome of the race.
Georgia’s elections for Senate is significant as it will create a resounding majority and define the election. Georgia’s coming election will determine the party that runs Senate, the smaller upper assembly in the US.
The DEMSENATE is the name of the FTX Democratic Senate 2020 derivatives contract. The contest will conclude by the 5th of January 2021.
If the Democrats claim victory in Georgia, then Joe Biden, President-elect, will have control of all houses in the US parliament. The betting contract will cease to exist at $0 if Democrats lose otherwise, it will be $1 for their victory.
The DEMSENATE US contracts are blocked from being traded in the US, Cambodia, Singapore, UAE, UK, EU, Hong Kong, and Canada.
The presidential contracts that FTX had were BIDEN, TRUMPWIN, and TRUMP, and they were too volatile from when counting started on the 3rd of November 2020. Once an influx of stats came in, FTX betters started to move in favor of a Biden win.
Georgia’s race will determine what happens to the American Senate, and it will likely be a tight race, unlike the presidential election. The winner of the race will play a dominant role in putting together cryptocurrency regulations.
With the US still tiptoeing around cryptocurrency, the coin’s future must fall into the right hands.