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The 2024 U.S. presidential election has had a lot of milestones that have influenced the staking markets since the political entities set out their campaign stalls.
Polymarket, one of the leading sites for crypto betting has former President Trump closing the gap on Kamala Harris as the 2024 Democratic National Convention (DNC) gets underway.
Trump closing in betting predictions according to Polymarket
The DNC is taking place across the week in the United Center in Chicago, Illinois, and is the stage for Harris, the Democratic candidate to speak to the nation. Joe Biden’s decision to drop out of the running for a second term as the President of the United States blew the odds wide open. An assassination attempt marred Former President Trump’s rally and Kamala Harris stepped into the Democratic void left by Biden.
Polymarket has Harris leading the presidential election odds with 50% of the projected votes falling her way, Trump however has been climbing back from a low of 45% of market prediction, up to 49%. The betting site has the current Vice President leading in Pennsylvania with 55% of the votes, Wisconsin with 58%, and Michigan with 68%.
Trump is leading, according to the site in Georgia with 58% of the votes, 53% in Nevada, and 51% in Arizona. The former president was at one point, the standout favorite to get back into the White House with 72% of the vote on July 12, his largest lead, which has faltered in recent weeks.
The prediction specialist also has a “Balance of Power” overview of where the House and Senate currently sit in the minds of gamblers. The House is sitting in favor of a Republican stronghold with 72% and the Senate remains in the grasp of the Democrats, according to Polymarket with 63% of the predicted votes.
Polymarket posted to social media about rampant rumors that Joe Biden may not see out his term in office:
Rumors are flying that Biden will resign tonight.
Baseless. pic.twitter.com/GUoKNGua4D
— Polymarket (@Polymarket) August 19, 2024
Former President Trump has been a supporter of the crypto market after initially regarding it as a “scam” in 2021 after leaving office. Trump now holds between $1m and $5m in Etherium holdings according to recent disclosures of internal documents.
A lot has changed since his vocal statements in 2019 about the crypto market:
I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity….
— Donald J. Trump (@realDonaldTrump) July 12, 2019
Image: Polymarket.
