In a surprise report for June 2025, Polymarket’s NYC mayoral betting market has blown up. This occurs at the same time that the platform’s total user engagement is dropping. While across the board trade volume and open interest have fallen since the 2024 U.S. election, speculation on New York’s mayoral race is at an all-time high. This highlights the intense Polymarket NYC mayor focus.
Scandals that played out during former mayor Eric Adams’ tenure have sparked trade activity. For issues related to his resignation or re-election, open interest in the markets went from $88,000 to over $2.3 million in less than two days. Traders are engaged betting on whether Adams will weather this crisis or leave office. Polymarket is closely watched by NYC mayor speculators.
Polymarket NYC Mayor Speculation Grows Rapidly
The Polymarket NYC mayoral market came back to life after a federal investigation into former staff. They were involved in misusing campaign funds. In this context, the NYC mayor on Polymarket is predicted to resign before August 1. This reflects recent news of a subpoena. In NYC, speculation surrounding Polymarket has never been higher.
Odds that Maritza Ramos will run went up to 38% after she gave a well-received public safety address. Additionally, rumors of a surprise run by entrepreneur Andrew Yang are fueling talk. Although his odds are still under 20%. Also what is adding to the drama is the volatility of it all. This speculation adds a layer of intrigue to the Polymarket NYC mayor market.
Outside of political trading, Polymarket is in decline. There is a 57% drop in monthly active traders since November. Presently, there is $131 million in open interest, which is way below the $510 million peak. Certain events do keep some of the markets alive. In particular when you have a mix of drama and governance.
Goes Against Platform Trends
In Polymarket’s NYC mayor category, which political market is doing the best? Although there’s a drop in user retention and regulation issues, these city-level bets present the core of Polymarkets’ success. It’s real-time sentiment as they play out among NYC mayoral observers on Polymarket. It’s clear that speculation involving NYC mayor on Polymarket remains strong.
In June it was noted that out of the total New York City-based wallets, 63% put their money into this issue. This is an indicator of high local interest. Reports noted that while overall trade is down, users tend to put more of their eggs in fewer baskets. In other words, they are concentrating their bets in high-profile issues which create a lot of emotion and media attention.
If Polymarket is to continue to base itself on real-world issues, it may do well to sustain its relevance between election cycles. With current events such as NYC mayor scandals, Polymarket could see success this summer. This particularly despite its regulatory challenges and with the ongoing interest in the Polymarket NYC mayor situation.
