Data from Polymarket indicates that Republican presidential nominee Donald Trump’s lead over his Democratic opponent, Vice President Kamala Harris, has diminished, though he still holds a competitive advantage. Trump’s odds of winning have dropped from 66.9% to 54%, while Harris’s chances have significantly increased from 33.5% to 46.1%. This shift in sentiment comes as Election Day on November 5 approaches.
Polymarket, which operates on the Ethereum blockchain, allows users to speculate on real-world outcomes using stablecoins (USDC) instead of more volatile cryptocurrencies. Notably, a gambler known as Théo has reportedly placed a wager exceeding $30 million on a Trump victory, highlighting the stakes involved in this election.
The changing dynamics in the race are further illustrated by the latest Des Moines Register/Mediacom poll, which shows Harris leading Trump by three percentage points in Iowa. The poll indicates that Harris commands 47% support compared to Trump’s 44% among likely voters, marking a significant turnaround from September, when Trump held a four-point advantage. Ann Selzer, a well-respected American pollster known for her accuracy, confirmed that the same polling methodology used this year was also applied in 2016 and 2020, both years Trump won Iowa.
Compounding the political landscape, recent revelations from The Daily Beast regarding interviews conducted by author Michael Wolff with convicted sex trafficker Jeffrey Epstein may have implications for Trump’s campaign. In these recordings, Epstein discussed his long-standing friendship with Trump before his death in a New York prison in August 2019 while awaiting trial.
As the electoral atmosphere evolves, the candidates’ positions on cryptocurrency have garnered attention from investors. Trump has positioned himself as a staunch supporter of cryptocurrencies, committing to backing the sector at a May event in Mar-a-Lago and allowing his campaign to accept crypto donations. In contrast, Harris has taken a more cautious approach, indicating her administration would support cryptocurrency as part of a broader strategy to enhance economic competitiveness. Her stance has garnered her an endorsement from Chris Larsen, the co-founder of Ripple (XRP), who has donated over $11.8 million to her campaign. Larsen has expressed confidence that Harris would take a markedly different approach to cryptocurrency regulation compared to President Joe Biden, who has faced criticism for appointing Gary Gensler as chair of the U.S. Securities and Exchange Commission.
As political predictions continue to fluctuate, Bitcoin’s recent price drop to $68,000 reflects the prevailing uncertainty in the market. The global cryptocurrency market cap has fallen by 1.95%, bringing it down to $2.28 trillion. Bitcoin experienced a dip to as low as $67,300 before managing to rebound above the $68,000 mark at the time of this report. Ethereum has not escaped this volatility, having also declined to around $2,400.
Related topics:
PEPE Becomes First Meme Coin to Officially Enter Japanese Market
Saylor Advocates for Bitcoin Self-Custody Amid Controversy
Bukele Donates Bitcoins to Support Education Initiatives in Honduras
