Former President Donald Trump is back in the lead over Democratic rival Kamala Harris on the popular cryptocurrency-based betting platform, Polymarket.
What happened:Betting experts at the world’s largest prediction market are predicting a 52% chance that Trump will win the November election, compared to 47% for Harris as of this writing.
For most of last week, the odds were even for both candidates. However, the situation shifted in favor of the Republican candidate in early September.
Trump’s chances hit an all-time high of 72% in mid-July. However, the president Joe Biden Harris’ withdrawal from the race and entry onto the Democratic presidential ticket have sparked a sea change in sentiment.
In fact, Harris edged out Trump in the betting odds for the first time last month.
Polymarché, built on the summit Ethereum ETH/USD Layer 2 chain, Polygon MATIC/USDhas become one of the world’s leading US election prediction markets in recent months.
As of this writing, more than $780 million in bets have been placed on the outcome of the election.
See also: El Salvador President Nayib Bukele Says Bitcoin Adoption Has Not Been a ‘Resounding Success’ — ‘We Never Forced Anyone to Adopt It’
Why it matters:Trump’s advance came amid his plans to make the United States the “crypto capital of the planet” and promote his family-backed cryptocurrency project, Liberty Global Financial.
Harris, on the other hand, has not mentioned cryptocurrencies and digital assets in any of her public statements, although Democratic supporters have launched a “Crypto for Harris” campaign to counter Trump’s move.
Price action: As of this writing, the Trump-themed PolitiFi token Maga was trading at $3.32, up 8.69% in the past 24 hours, according to CoinMarketCap. Interestingly, the Harris-themed cryptocurrency Kamala Horris also increased by more than 12%.
Image via Shutterstock
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