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Open interest in geopolitical and NBA entertainment markets surges on Polymarket

On June 24, it was reported that the forecast market on Polymarket, especially those related to recent global tensions and geopolitical conflicts, saw a significant surge in the number of open interest contracts (OIs), with the Iran-related market leading the gains last week. In addition, Polymarket's monthly active traders and trading volume are less than half of its historical highs, while the number of new markets created has dropped by 23%. However, the platform's growing diversification of market types-reflected in the composition of open interest contracts-suggests that it is gradually shifting from being dominated by bets such as the U.S. election to broader, more event-driven speculation.

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