Trump Dominates Crypto Election Bets: Here’s Why

The former president has been on a positive streak in recent weeks, pulling ahead as the election approaches.

Donald Trump in the foreground with an energy sphere around his fist, as Kamala Harris watching it from the background.
Created by Gabor Kovacs from DailyCoin
  • The next United States Presidential election is fast approaching.
  • The race between rivals Donald Trump and Harris is heating up.
  • One candidate is pulling ahead as the big day draws nearer.

With only 14 days to go, the next United States presidential election draws ever closer. Industry chatter surrounding the top rivals in the race, Kamala Harris and Donald Trump, is also heating up as anticipation builds over who is likely to take the soon-to-be-vacant White House seat.

As the clock ticks down, speculation is ramping up on prediction platforms, with more bettors weighing in on who will come out on top.

Trump Tops Harris in Election Bets

The face-off between Republican candidate Donald Trump and Democratic candidate Kamala Harris is intensifying on decentralized predictions platform Polymarket. At press time, Trump holds a commanding 27% lead, with the odds at approximately 64% to 36% in his favor.

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While the two candidates were previously neck-and-neck, Trumpโ€™s odds have surged impressively in recent weeks, dominating Harris in a strong lead in all predictions for key swing states.

2024 election forcast on Polymarket.

Trumpโ€™s strong chances build on his months-long ‘crypto president‘ campaign, which has seen the election hopeful boldly engage with the industry through various ventures. From a public display of Bitcoin transactions to launching his own DeFi project, the former president has continued to woo the asset class, likely boosting his appeal among industry watchers.

However, in contrast, Harris’s recent efforts have yet to translate into favorable odds.

Kamala Harrisโ€™ Crypto Bid Falters

Vice President and Democratic candidate Kamala Harris has seen her odds struggle in recent weeks, reflected by her weak 36% chance of winning at the time of writing.

Despite leading Trump on Polymarket throughout most of August 2024, following her ramp-up in efforts to position herself as a pro-industry candidate, her odds have steadily declined.

However, Harrisโ€™ underperformance is not isolated. While her campaignโ€™s formation of the โ€˜Crypto 4 Harrisโ€™ advocacy group in September earned her some goodwill, the vice president has faced criticism for not taking as clear and open a stance on the industry as Trump has.

Additionally, the strained relationship between the crypto community and the current Biden administration may complicate her efforts, and whether the election hopeful can overturn the odds remains to be seen.

On the Flipside

  • Despite the significant gap between Trump and Harris, platforms like Polymarket are largely speculative and do not guarantee the actual outcomes of the upcoming election. 
  • Kamala Harris holds the lead in some traditional polls.
  • The authenticity of both sidesโ€™ support for crypto is still debated across the industry.

Why This Matters

Crypto prediction platforms have become a hot topic in the upcoming election chatter, and their data is becoming increasingly prominent as the date approaches.

Read this article for reservations over the betting patterns on Polymarket:
Trump Widens Polymarket Lead on Harris, but Betting Pattern Raises Eyebrowsย 

Sui Network has ventured into Dubai with a first-of-its-kind incubator hub; find out more about it here:
Suiโ€™s First โ€˜Incubator Hubโ€™ Goes Live in Dubaiย 

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Grace Abidemi

Grace is a crypto reporter for DailyCoin, covering a diverse range of market updates. Grace has minor holdings in Bitcoin & Solana, and moderate holdings in Rune & XRP.

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