Donald Trump reclaims lead over Kamala Harris in Polly Market, with odds rising to 53%.
Former President Donald Trump has regained the lead over Vice President Kamala Harris in the upcoming US elections on prediction platform Polymarket.
Trump’s odds of winning have risen to 53%, overtaking Harris, who was previously in first place with 54% just days ago. Despite the jump to 53%, Trump’s current odds are significantly lower than the 72% peak he reached after the Bitcoin 2024 conference in Nashville, Texas.
The recent surge in Trump’s chances comes on the heels of recent criticism over Harris’ cautious approach to the crypto industry. At the time of writing, Trump has a 53% chance of winning the 2024 presidential election, ahead of Kamala Harris at 46%.
It is worth noting that Lookonchain has drawn attention to an unknown individual who signed up on Polymarket on August 19 and withdrew $205,000 in USD Coin (USDC) from Binance.
The money was used to buy 417,252 shares in favor of Trump winning the election. With the odds on Trump increasing, the bettor now has an unrealized profit of $15,000. The Republican candidate now sees bets on his potential win exceeding $85 million, compared to $77.5 million for Harris. Both candidates’ bets have continued to increase on Bull Market.
Harris is under fire
Harris’ initial progress has been bolstered by her team’s increased efforts to appeal to the crypto industry, particularly with the Crypto4Harris campaign and a recent roundtable.
However, recent developments have raised questions about Democrats’ willingness to improve the regulatory climate around cryptocurrencies in the United States. For example, the 2024 Democratic National Committee platform notably excluded any direct mention of cryptocurrencies, raising concerns.
Furthermore, Kamala Harris’s campaign has expressed its intention to support a 44.6% capital gains tax, which would be the highest rate in U.S. history. This move has drawn further criticism from prominent cryptocurrency industry leaders.
Meanwhile, for each BloombergHarris’ aide, Brian Nelson, revealed that the Democratic candidate has promised to support measures that would help grow the crypto industry. In response, Cardano founder Charles Hoskinson expressed his skepticism.
Harris has faced criticism for not being a strong advocate for the industry, especially as former President Donald Trump has positioned himself as a pro-crypto candidate. Trump’s platform includes promises to block the creation of a central bank digital currency, fire SEC Chairman Gary Gensler, and even stop the government from dumping its bitcoin holdings.