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Trump vs. Harris Odds Shift as Polymarket Bets Tie Up

Trump vs. Harris Odds Shift as Polymarket Bets Tie Up

DailyCoinDailyCoin2024/08/19 22:45
By:DailyCoin
  • The race between Donald Trump and Kamala Harris is tightening within the crypto betting markets.
  • A recent uptick in Trump’s chances challenges Harris’ odds.
  • Democrats are intensifying their focus on crypto-focused initiatives.

The mounting tension surrounding the upcoming United States presidential election has spilled over into the crypto industry, fueling debates over which candidate will push more crypto-friendly policies. The growing pressure has led to intense predictions, where Donald Trump, the Republican candidate, initially thrived with his self-proclaimed ‘crypto president’ title, before being displaced by Democrat candidate Kamala Harris.

However, shifting polls now indicate that Harris’ goodwill may be short-lived as Trump begins to regain ground.

Trump and Harris Neck-and-Neck in Election Odds

Presidential election candidates Donald Trump and Kamala Harris have recently seen fluctuations in their winning odds. Per Polymarket data on Monday, August 19, both of the election hopefuls are now tied at an equal 49% in the predictions for the upcoming November elections.

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The present estimation marks a positive shift for Trump, whose odds previously slipped to 44% from their once thriving 70%, when the Vice President overtook him with a 10% uptick. 

Trump vs. Harris Odds Shift as Polymarket Bets Tie Up image 0 Trump vs. Harris Odds Shift as Polymarket Bets Tie Up image 1 Source: Polymarket

On the other hand, Kamala Harris’ current 49% odds reflect a decline from her previous peak of 54%, where she had briefly surged ahead of Trump.

Despite Trump’s recent improvement, his positive shift is yet to take hold of the mainstream.

Kamala Harris Still Standing Strong

Contrary to his recovery on Polymarket , the former president still lags behind Harris in other polls.

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Majority of the prediction markets with forecasts for the November elections continue to favor Harris, such as PredictIt , where the Democrat candidate’s odds trends ahead of Trump by a ten point-margin. Similarly, the Silver Bulletin 2024 presidential election forecast has Harris in the lead with a total of 47.1%, compared to Trump’s 44.6%.

Harris’ strong performance coincides with her campaign’s increased efforts to position her as a pro-crypto candidate, aiming to solidify support from the industry. The efforts have included the creation of an industry-focused advocacy group called ‘Crypto 4 Harris’ and town hall meetings to explore crypto-related issues. 

On the Flipside

  • On August 16, 2024, Donald Trump revealed his Ethereum-dominant crypto holdings in his personal financial disclosure.
  • The absence of Kamala Harris from the recently held crypto reset town hall meeting has raised doubts regarding her support for the industry and prompted calls for a clarified stance.
  • Two of Trump’s sons have joined in his crypto campaign with their personal ambitions.

Why This Matters

The recent recovery in Donald Trump’s winning odds on Polymarket reflects a positive turnaround in his once declining chances, signaling renewed confidence in his campaign. However, the lack of widespread change suggests that the sentiment hasn’t fully shifted across other platforms.

Read this article for more about the calls for Kamala Harris to either voice her support for or opposition against crypto:
Ramaswamy Urges Harris to Clarify Crypto Stance for Partisan Unity

Here’s how the change in the Democrat party candidate fared on Polymarket:
Biden Drops Out of Race: How Polymarket Traders Saw It Coming

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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