Zohran Mamdani Wins NYC Mayoral Race as Polymarket Traders Nail Another Prediction

Zohran Mamdani has been elected as New York City’s next mayor, marking a historic moment for the city and a notable win for crypto prediction markets that once again called the outcome with striking ￰0￱ Takeaways: Zohran Mamdani won the New York City mayoral race, becoming the city’s first Muslim ￰1￱ traders accurately predicted Mamdani’s victory, continuing their strong record in major political forecasts. Mamdani’s cautious stance on crypto signals tighter oversight and consumer protection for New York’s digital asset ￰2￱ to unofficial results from the city’s Board of Elections , Mamdani secured just over 50% of the vote, defeating former Governor Andrew Cuomo, who captured around 40%.

The Associated Press officially called the race for Mamdani on ￰3￱ Traders Score Again After Predicting Mamdani’s NYC Mayoral Win Data from Polymarket, the blockchain-based prediction platform, showed that 92% of traders bet on a Mamdani victory before election day , including a $1 million position that pushed implied odds close to ￰4￱ result adds to Polymarket’s growing track record after correctly forecasting both Donald Trump’s presidential victory last year and New York’s Democratic mayoral primary in June. Mamdani, 34, a Ugandan-born, Queens-raised progressive and self-described democratic socialist, becomes New York’s first Muslim ￰5￱ campaign centered on affordability, including tackling rent, childcare, and public service funding through higher taxes on the city’s wealthiest 1%.

While Mamdani’s victory represents a breakthrough for New York’s progressive movement, it also raises questions for the city’s crypto and fintech ￰6￱ previous mayors, including Eric Adams and Cuomo, who voiced open support for digital assets, Mamdani’s stance has been ￰7￱ a member of the State Assembly, he co-sponsored Bill A7389C, seeking a moratorium on proof-of-work crypto mining using on-site power generation, citing environmental and community concerns. “When crypto companies collapse, it isn’t the rich who suffer,” Mamdani said in 2023 after the Terra and FTX meltdowns. “It’s small investors from low-income and communities of color.” Andrew Cuomo could’ve spent the years since his resignation making amends and helping New ￰8￱ he hounded the women who spoke out about his serial harassment, fought to keep his book deal millions…and advised a foreign crypto exchange that broke US ￰9￱ — Zohran Kwame Mamdani (@ZohranKMamdani) April 2, 2025 The mayor-elect has consistently emphasized consumer protection and transparency over industry ￰10￱ comments align with New York Attorney General Letitia James’ push for stronger oversight, including the proposed crypto transaction tax projected to generate over $150 million ￰11￱ Titans Clash with Mamdani as Billionaires Fund Anti-Mayor Campaigns Despite limited direct engagement with crypto issues during his campaign, Mamdani’s critical remarks toward the industry, and toward Cuomo’s advisory role for crypto exchange OKX, which later paid $500 million in penalties, drew backlash from prominent tech and finance figures.

Gemini’s Tyler Winklevoss and Sequoia’s Shaun Maguire were among those who criticized Mamdani, while billionaire Bill Ackman poured funds into anti-Mamdani ￰12￱ brushed off their opposition with characteristic wit. “He’s spending more money against me than I would even tax him.” As Mamdani prepares to take office on January 1, all eyes are on how his administration will navigate the balance between progressive policymaking and the city’s influential financial and crypto sectors.