Data from Polymarket indicates that Donald Trump, the Republican presidential nominee, continues to lead over his Democratic rival, Vice President Kamala Harris, although his advantage has slightly decreased.
According to the information, Trump’s chances of winning have dropped from 66.9% to 54%, while Harris has experienced a significant increase in her odds, rising from 33.5% to 46.1%. This shift in the market reflects a change in sentiment as the election date of Nov. 5 approaches.
Polymarket, which operates on the Ethereum blockchain, allows users to trade shares in various real-world outcomes by using a stablecoin (USDC) as opposed to more volatile cryptocurrencies.
A gambler on Polymarket known as Théo has placed bets exceeding $30 million on a Trump victory, as reported by the Wall Street Journal.
In the latest poll results from Des Moines Register/Mediacom in Iowa, Harris seems to be gaining momentum. Renowned pollster Ann Selzer has indicated that Harris is currently leading Trump in Iowa by three percentage points.
In the poll, Harris garnered 47% support compared to Trump’s 44% among likely voters. This marks a significant change from the September poll where Trump was ahead by 4 points.
Meanwhile, The Daily Beast recently released recordings of interviews conducted by author Michael Wolff in 2017 with convicted sex trafficker Jeffrey Epstein. Epstein discussed his long-standing friendship with Trump during these interviews before his death in August 2019.
Both Trump and Harris have differing stances on cryptocurrency regulation, which has become important to investors. Trump has shown strong support for crypto, even publicly committing to supporting it at an event in Mar-a-Lago.
On the other hand, Harris has taken a more cautious approach, indicating that her administration would support crypto as part of a broader economic strategy. Ripple co-founder Chris Larsen, who donated over $11.8 million to Harris’s campaign, believes she will take a different approach to crypto than President Joe Biden.
As state polls and predictions from Polymarket continue to fluctuate, the price of Bitcoin has been affected by the uncertain political climate. The global crypto market cap has seen a 1.95% drop to $2.28 trillion, with Bitcoin reaching lows of $67,300 before bouncing back above $68,000. Ethereum has also experienced a decline, falling to the $2,400 level.