Betting on Harris nears $63 million, while Trump's surpasses $73 million on crypto-native platform.
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Key Takeaways
- Harris maintains 52% odds on Polymarket compared to Trump's 46% for fourth consecutive day.
- Betting on Harris reaches $63 million, while Trump's exceeds $73 million on the crypto-native platform.
Kamala Harris’ odds of winning the US presidential election on Polymarket surpassed Donald Trump’s on Aug. 9 and have been maintained. At the time of writing, Harris has 52% odds of winning against Trump’s 46%.
Notably, betting on Harris as a winner of the electoral race is nearing $63 million, although Trump’s has surpassed $73 million. The movement is interesting since Trump is seen as the pro-crypto candidate and Polymarket is a crypto-native application.
Thus, the rise in Harris’ odds might be tied to a shift in sentiment by crypto investors, who might have started seeing the Democrat nominee as a viable choice, or at least less harmful than Joe Biden.
“As Harris surges in the polls, the crypto markets are bracing for impact. She has a more cautious stance on digital assets, which suggests that investors might face stricter regulations ahead,” stated Ben Kurland, CEO of DYOR.
Kurland added that this surge is a “reality check” for those banking on a lenient regulatory future in crypto. “Navigating this new landscape will require both strategic foresight and agility in my opinion.”
Anastasija Plotnikova, CEO of Fideum, points out that the shift in the odds highlights a growing recognition among politicians of the influence of crypto and single-issue voting blocs.
“As Harris’ team begins to engage with the crypto industry, it reflects an understanding of the electoral power held by these communities, which have previously shown strong support for Trump,” added Plotnikova.
Moreover, she underscores that this engagement with the crypto community is crucial, as the sector continues to gain political significance, evidenced by grassroots movements like “Crypto4Harris” and the involvement of influential figures such as Mark Cuban.
“Not to forget, the political landscape is being shaped by regulatory actions, such as those by the Federal Reserve, which have sparked debates about the future of cryptocurrency policy under potential administrations,” said the CEO of Fideum.
Yesterday, Trump participated in an X Spaces with Elon Musk, and the betting poll “What will Trump say during Elon interview?” on Polygon-based prediction market Polymarket hit nearly $5 million.
Despite “crypto” being the word with the most amount in bets, surpassing $800,000, the US presidential candidate avoided using it, as reported by Crypto Briefing.
