The failed assassination attempt in Pennsylvania appears to have boosted Donald Trump’s chances of winning the winter election, at least in the eyes of the overachievers.
Bettors on Polymarket are betting that Republican candidate Donald Trump has a 71% chance of winning this year’s U.S. presidential election and defeating Joe Biden in November. On Monday, Joe Biden’s reelection odds were around 18%. Bettors have placed more than $259 million on the Polymarket prediction platform in a pool titled “Winner of the 2024 Presidential Election.”
Trump’s odds of winning have risen from 60%, crypto.news noted, before the shooting at a rally in Pennsylvania over the weekend. The incident that killed Trump may have prompted more bettors on Polymarket, as crypto markets also surged after the shooting.
Except for XRP and Ripple’s stablecoins, all tokens in the top 10 cryptocurrencies have risen by at least 7% in the past 24 hours.
Are the stars moving towards cryptocurrencies?
In addition to Trump staying in Pennsylvania, the former president also announced a crypto-friendly candidate, J.D. Vance. Vance was unveiled as Trump’s running mate as crypto markets recovered on Monday.
The pairing could fuel speculation that the White House could see two crypto-friendly officials since the Trump camp has rebranded its campaign as crypto-friendly. Ohio Senator Vance has hailed his bill, which seeks to reshape U.S. crypto regulations.
On the macro front, Federal Reserve Chairman Jerome Powell indicated that the central bank may be closer to cutting interest rates than ever before. Powell said the central bank should not wait until inflation reaches its 2% target before adopting dovish monetary policies.
