Kamala Harris leads Trump for fourth straight day at Polymarket

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Kamala Harris’ odds to win the US presidential election at Polymarket overtook Donald Trump’s on August 9 and held. As of this writing, Harris has a 52 percent chance of winning to Trump’s 46 percent.

Notably, the bet on Harris as the winner of the election race is approaching $63 million, although Trump’s has exceeded $73 million. The move is interesting because Trump is seen as the pro-crypto candidate and Polymarket is a crypto-native app.

Thus, the increase in Harris’ chances could be related to a change in sentiment among crypto investors, who would have started to see the Democratic candidate as a viable choice, or at least less harmful than Joe Biden.

“As Harris Rises in Polls, Crypto Markets Brace for Impact. It has a more cautious stance on digital assets, which suggests that investors may face tighter regulations in the future,” said Ben Kurland, CEO of DYOR.

Kurland added that the increase is a “reality check” for those banking on a future of lenient regulation in crypto. “Navigating this new landscape will require both strategic foresight and agility, in my view.”

Anastasija Plotnikova, CEO of Fideum, points out that the shift in odds highlights a growing recognition among politicians of the influence of crypto and single-issue voting blocs.

“As Harris’ team begins to engage the crypto industry, it reflects an understanding of the electoral power held by these communities, which have previously shown strong support for Trump,” Plotnikova added.

Furthermore, she points out that this engagement with the crypto community is crucial as the sector continues to gain political significance, highlighted by grassroots movements like “Crypto4Harris” and the involvement of influential figures like Mark Cuban.

“Let’s not forget, the political landscape is shaped by regulatory actions such as those of the Federal Reserve, which have sparked debate about the future of cryptocurrency policy within potential administrations,” said Fideum’s CEO.

Yesterday Trump attended an X Spaces with Elon Musk and betting poll “What Will Trump Say During Elon Interview?” on the Polygon-based prediction market, Polymarket reached almost $5 million.

Despite the fact that “crypto” is the word with the highest amount in bets, exceeding $800,000, the US presidential candidate avoided using it because reported by Crypto Briefing.

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