Bets have been posted on Polymarket, the world's largest cryptocurrency-based betting site, about the possibility of Yoon Suk Yeol's president stepping down within this month.
While about seven bets related to the emergency martial law crisis were held in the polymarket on the 4th, a bet worth $865,763 (about 1.223.14 billion) was made to the question of "Will President Yoon step down as president in 2024?" As of this afternoon, the possibility of President Yoon stepping down from the bet is expected to be 44%.
In addition, about $233,376 (about 325.56 million won) worth of bets were placed on another question, "Will President Yoon be impeached within Friday?" and 80% of the time is likely to be impeached within Friday.
Foreign media analyzed that President Yoon's political position was in jeopardy due to the declaration of martial law.
"President Yoon seemed to save the regime, but instead he almost made his downfall clear," the British economist said. "If he doesn't resign on his own, the National Assembly will probably impeach him."
The Wall Street Journal (WSJ) reported that President Yoon made a big political mistake and predicted, "President Yoon, whose approval rating has recently fallen below 20%, will now face difficult questions about his political future."
Polymarket is a cryptocurrency-based betting site launched in 2020, allowing investors to earn money from election results and predictions of results on crypto prices, popular culture, global events and more.
Reporter Lee Yu Na from Digital News Team.
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