- Kamala Harris’ odds just jumped 5% on Polymarket.
- Pro-crypto candidate Donald Trump is still ahead.
The US presidential election has become a nailbiter.
Vice President Kamala Harris’ chances of beating former President Donald Trump in November jumped from 38% to 43% in less than a day, according to a bet on Polymarket, the popular prediction marketplace.
Her odds improved after the Republican nominee on Wednesday questioned Harris' identity as a black woman.
Trump, by comparison, saw his reelection odds drop from 60% to 55%.
Michelle Obama, who has not announced a run for the White House, has a 1% chance of winning, according to the bet, which also lists the likes of Hillary Clinton and Robert F. Kennedy Jr.
Harris’ upswing on Polymarket comes on the back of a poll that shows that she has closed the gap between herself and Trump, and has taken the lead in six out of seven key swing states.
The outcome of the election has become a point of contention in the crypto industry.
One faction favours Trump thanks to his pledges to create a US government Bitcoin stockpile and oust Securities and Exchange Commission Chair Gary Gensler. The regulator has drawn the ire of crypto after firing a barrage of lawsuits against crypto heavy-hitters, such as Coinbase and Binance.
The other faction argues voters shouldn’t base their vote solely on crypto but also factor in abortion rights, gun laws, and Russia’s war on Ukraine, among other issues.
Meteoric rise
Harris' rise marks a dramatic shift from just two weeks ago when Trump pulled ahead in the polls after President Joe Biden delivered a catastrophic performance in a debate in June.
Yet the sense of schadenfreude that swept across the crypto community segments backing Trump was punctured when Biden pulled out of the race.
Biden threw his support behind Harris as the Democrats’ presidential nominee.
While Biden was seen as a predominantly anti-crypto candidate, Harris' has not made her views on the industry clear.
Crypto market movers
- Bitcoin is down 2.3% over the past 24 hours to trade at $64,401.
- Ethereum is down 4.3% to trade at $3,170.
What we’re reading
- Ethena downplays danger of letting traders use USDe to back risky bets — DL News
- Bank of England Cuts Interest Rates for the First Time in 4 Years — Milk Road
- Mt. Gox Moves $2.2 Billion in Bitcoin to New Wallet — Unchained
- Federal Reserve Leaves Interest Rates Unchanged Again — Milk Road
- Think you own your crypto? A new UK law would make sure — DL News
Eric Johansson is DL News’ News Editor. Got a tip? Email at eric@dlnews.com.
