Donald Trump has widened his lead over Kamala Harris on Polymarket ahead of the 2024 US presidential election.
After a period of near parity in mid-August, Trump’s odds on Polymarket jumped several percentage points, with 53% of bettors favoring him to 47% for Harris.
The move marks a comeback for Donald Trump, whose chances have waned after Joe Biden announced he would not seek reelection, giving the current vice president a temporary boost.
Despite the rise to 53%, Trump’s chances are well below the 72% peak reached after the Bitcoin 2024 conference in Nashville, Texas, in late July.
Trump and cryptocurrencies
Trump’s resurgence can partly be attributed to his strong appeal among cryptocurrency investors, an increasingly influential demographic in this election, according to Coinbase.
His pro-crypto stance, including his promises to support the Bitcoin (BTC) industry and blockchain initiatives, has resonated with crypto heavyweights.
On August 27, Trump announced his fourth NFT collection, “Series 4: The America First Collection,” which features digital trading cards minted via Bitcoin ordinals. Two days later, he announced his intention to make the United States the “cryptocurrency capital of the world” if re-elected, in reference to his World Liberty Financial initiative.
On the other hand, Harris’ campaign has struggled to maintain momentum among Polymarket users, especially after key events like the Democratic National Convention, where crypto was notably absent from the discourse.
During this election period, both parties have been appealing to the crypto community, in an attempt to woo the crypto community and their financial contributions. As a result, Polymarket election bettors have had a lot of success, and it is expected that things will only get crazier as the election season approaches.
