Victory lap

Biden's dropping out of the 2024 presidential election yesterday elicited some reactions from Crypto Twitter over the efficacy of prediction markets.

What they're saying: Solana cofounder Anatoly Yakovenko took the time to hype Polymarket: "Without Polymarket there is a chance that bs polls like 538 would have buried the truth. This is truly the first crypto election."

• Gitcoin's Kevin Owocki asked, "Does Polymarket measure outcomes or create them? 🤔"

By the numbers: Over $21 million was spent on the bet that Biden would drop out.

• The company pointed out one trader who stood to lose millions if he did.

And also: Tiffany Fong, accidental crypto content maker, posted a pic of her and Biden writing, "the 'photo with tiffany' curse lives on. you're welcome."

The intrigue: Nick Tomaino, founder of the fund 1confirmation and a Coinbase alum, called out the mainstream press for failing to dig into how well Biden was doing.

• "Skin in the game or STFU," Tomaino wrote.
• Yes, but: Axios has been covering the topic thoroughly, at least since September.

What we're watching: Leaders who didn't say anything about Biden's decision.

• Most of America's biggest names in crypto have been silent 🤫.