Trump’s lead over Harris weakens on Polymarket, reflecting changes in political betting odds and market shifts.
Trump’s Lead on Polymarket Slips Ahead of Election
The race between Donald Trump and Kamala Harris has tightened on Polymarket. Data from the betting platform shows Trump’s advantage has dropped from 66.9% to 54%, signaling a shift in market sentiment as the November 5 election approaches. Meanwhile, Harris has gained ground, climbing from 33.5% to 46.1%, hinting at her increasing support.
Harris Gains in Latest Polls
According to the latest Iowa poll by the Des Moines Register/Mediacom, Harris has pulled ahead. American pollster Ann Selzer reported Harris leading by three percentage points, with 47% support compared to Trump’s 44%. The latest figures represent a sharp reversal from September when Trump led by four points. Selzer, known for her accuracy in previous election years, told Newsweek that her team used the same polling methods as in 2016 and 2020 when Trump won Iowa.
Betting Activity Reflects Political Shifts
A high-stakes Polymarket gambler, identified as Théo, has wagered over $30 million on a Trump win. Polymarket, built on Ethereum, allows users to buy shares on real-world events using USDC, a stablecoin. This structure avoids the volatility often associated with cryptocurrencies like Bitcoin and Ethereum. According to The Wall Street Journal, this significant bet reflects the heated political climate.
Trump and Harris on Cryptocurrency
The two candidates’ stances on cryptocurrency have also drawn attention. Trump has voiced strong support for crypto, promising at a May event to back it, and his campaign now accepts crypto donations. On the other hand, Harris has taken a more cautious approach. She stated in September that her administration would include cryptocurrency in broader economic plans. Ripple co-founder Chris Larsen, who donated $11.8 million to her campaign, endorsed Harris, citing her different approach from President Biden, who appointed Gary Gensler to head the U.S. SEC.
Epstein Recordings Resurface Amid Election
Interviews conducted by author Michael Wolff with convicted sex trafficker Jeffrey Epstein in 2017 were recently published by The Daily Beast. Epstein, who died in 2019, discussed his friendship with Trump in these recordings. The resurfacing of these recordings has added an unexpected twist to the political scene, potentially impacting public perceptions.
Bitcoin Price Fluctuates Amid Political Uncertainty
As political betting heats up, the price of Bitcoin recently dropped to $68,000, reflecting a dip in market confidence. Bitcoin’s decline, reaching as low as $67,300 before stabilizing above $68,000, aligns with recent turbulence in the global crypto market. Ethereum also faced a decline, falling to $2,400. The overall market cap has decreased by 1.95%, with investor caution linked to uncertain political outcomes.
Looking Forward
With Election Day nearing, Trump and Harris continue to contend for favor among voters and investors. Their contrasting stances on crypto, combined with shifting poll and Polymarket data, highlight the complexity of this election. As the political climate influences financial markets, the stakes remain high for both the candidates and investors following their moves.
Disclaimer:
The information provided on 13Desk is for informational purposes only and should not be considered financial advice. We strongly recommend conducting your own research and consulting with a qualified financial advisor before making any investment decisions. Investing in cryptocurrencies carries risks, and you should only invest what you can afford to lose. 13Desk is not responsible for any financial losses incurred from your investment activities.
