Crypto markets bet over $300 million on New York City mayor race 

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Cryptocurrency bettors have piled into the New York City mayoral market with $303,797,754 in total volume, and the pricing is close to unanimous. 

On Polymarket, Zohran Mamdani trades at a 95% implied probability, with Yes at 95.5¢ and No at 4.6¢. His contract has handled about $75,399,890 in turnover, and his odds have marched toward 100% since the July flip that knocked Andrew Cuomo out of pole position.

New York City Mayoral Election. Source: Polymarket

Cuomo’s line sits at 4%, with Yes at 4.1¢ and No at 96.1¢, after absorbing roughly $18,356,111 in wagers. 

The odds represent a dramatic consolidation of support in recent months. Mamdani’s line has climbed steadily through summer, while rivals have collapsed to near zero. Curtis Sliwa, pro-Bitcoin Eric Adams, and Jim Walden all trade below 1%.

The spread across runners tells the same story as the chart: traders have concentrated risk almost entirely in Mamdani, while liquidity on the rest of the field funds hedges and fading. While prediction markets are not polls, they aggregate real money positioning from thousands of traders who adjust odds dynamically as news breaks. 

With Mamdani now sitting at 95% and the nearest rival barely above 4%, crypto markets are sending an unambiguous forecast: this race, in their eyes, is already over.

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