As the US election season approaches, people is looking for ways to bet on the outcomes using Ethereum (ETH). However, finding platforms that offer end-to-end ETH betting on political events can be challenging. This article explores the current landscape and potential solutions.

1. The Demand for ETH-based Election Betting
2. Challenges in Finding Suitable Platforms
3. Potential Solutions and Workarounds
4. Risks and Considerations
5. Conclusion

Some crypto users are seeking platforms that allow them to:

• Deposit ETH
• Place bets denominated in ETH
• Win payouts in ETH
• Withdraw winnings as ETH

Additionally, there's interest in prediction markets or betting exchanges that allow users to bet against specific outcomes.

Several obstacles exist:

• Many popular platforms like Polymarket use stablecoins (USDC/USDT) instead of ETH
• Traditional sportsbooks often lack options to bet against specific outcomes
• Platforms like Augur, which aimed to provide ETH-based prediction markets, have not fully realized their potential

While no perfect solution exists, users have suggested several approaches:

a) Borrow USDC Against ETH:

• Use platforms like Aave to deposit ETH and borrow USDC
• Place bets using USDC on platforms like Polymarket
• Repay the USDC loan after winning

b) Alternative Platforms:

• Zeitgeist: A Polkadot-based prediction market (requires bridging ETH and using ZTG tokens)
• kekw.bet: An ETH-based platform, but with limited liquidity

c) Complex Hedging Strategies:

• Use ETH futures contracts to lock in ETH prices
• Place bets in stablecoins while maintaining ETH exposure

• Market Volatility: ETH price fluctuations can impact overall gains or losses
• Smart Contract Risks: Interacting with multiple protocols increases exposure to potential vulnerabilities
• Liquidity Issues: Some suggested platforms may have limited trading volume
• Regulatory Concerns: Betting on political outcomes may face legal restrictions in some jurisdictions

While betting on US elections using ETH remains challenging, creative solutions exist for determined users. However, these approaches often involve additional complexity and risk. As the cryptocurrency ecosystem evolves, more user-friendly options for ETH-based prediction markets may emerge.

Potential bettors should carefully consider the risks, conduct thorough research, and never invest more than they can afford to lose.