The handful of early markets “seem to have resolved fine,” Augur co-founder Joey Krug told CoinDesk.
It went live on ethereum last week, nearly three years after the initial coin offering (ICO) that funded its development concluded.
More than one user in a community forum expressed relief and congratulated the Augur team on Wednesday.
Krug estimated that just over $20,000 worth of ether had been paid out, based on data from Predictions.Global, a site that displays Augur betting markets.
The amount of money staked on Augur prediction markets has ballooned in recent days.
The U.S. Commodity Futures Trading Commission (CFTC) may not like election betting, but only Congress — not the regulator — has the authority to ban it, embattled prediction market purveyor Kalshi argued in a Friday court filing.
If the prediction market's traders are right – and lately, they've been right – the election results are even more bullish for crypto than they appear.
As much as a third of the prediction market's volume is inflated by traders buying and selling the same shares repeatedly, Fortune reported, citing blockchain researchers. They could be doing it to farm a future airdropped token.
One of the major breakout successes this year for the team behind layer-2 blockchain Polygon is Polymarket. But according to data, Polymarket has only brought in about $27,000 of transaction fees for Polygon PoS in 2024.