The US will get a new President Donald Trump as his Polymarket winning odds soar to 99%
By Godfrey Benjamin
Edited by Julia Sakovich
Updated
3 mins read
According to data from the decentralized prediction market platform Polymarket, the winning odds are significantly in favor of Republican presidential candidate Donald Trump. The former president of the United States of America saw his chances of winning the election climb to 99%, leaving his Democratic rival Kamala Harris with a meager 1%.
The new data reflects a huge jump from 58%, where the odds stood as of 7 PM on Tuesday. AP News says Trump is leading in the vote count as he has already secured 267 electoral votes against Harris as of writing. The DNC candidate has only 224 in the race to reach 270 votes.
“This Presidential market resolves when the Associated Press, Fox, and NBC all call the election for the same candidate. In the unlikely event that doesn’t happen, the market will remain open until inauguration and resolve to whoever gets inaugurated,” Polymarket stated.
Should Trump win, the crypto landscape in the US may pivot. Before now, the 78-year-old politician expressed his skepticism towards the crypto ecosystem. Suddenly, he became a top industry proponent, calling himself the “Crypto President”. Donald Trump endorsed several aspects of the crypto industry as part of his campaign strategy.
Harris also kicked off a crypto campaign as the competition got tougher, voicing her intention to support blockchain and its related offerings. However, Trump is considered a more positive candidate for the future of the crypto industry in America.
The bullish sentiment seen in the crypto market as Trump’s odds increased is a clear indication.
Bitcoin BTC $93 234 24h volatility: 0.5% Market cap: $1.85 T Vol. 24h: $31.45 B has recently climbed, reaching farther than its All-Time High (ATH). The price of the coin exceeded $75,361, marking a new ATH. At the time of this writing, the flagship cryptocurrency traded at $73,600, corresponding to a 6.93% increase in the past 24 hours. Its market cap has also climbed to $1.45 trillion, representing almost 60% of the total crypto market cap.
It is worth noting that Bitcoin’s price slipped to as low as $66,853 before it later rebounded to above $68,700. Due to the heightened volatility, more than $200 million was liquidated from the crypto-leveraged market, with over $148 million involving the long traders.
Ethereum ETH $1 768 24h volatility: 0.4% Market cap: $213.36 B Vol. 24h: $14.11 B is also seeing a bullish rally. The largest altcoin by market cap has registered a 6.06% increase in the last 24 hours and is now trading at $2,591.41. Its trading volume is almost up at the moment. CoinMarketCap data shows this metric has surged 83.68% in the last 24 hours. Solana SOL $151.3 24h volatility: 1.8% Market cap: $78.22 B Vol. 24h: $4.47 B and other altcoins also registered strong growth.
Dogecoin DOGE $0.18 24h volatility: 3.7% Market cap: $26.85 B Vol. 24h: $1.53 B , endorsed by Trump supporter Elon Musk, gained 26.64% in the past 24 hours. Meanwhile, the US Securities and Exchange Commission’s (SEC) regulation by enforcement strategy may end.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
