Markets
Trump’s crypto support increases his odds in prediction markets
As the US presidential election approaches, Donald Trump’s commitment to cryptocurrency sets him apart from the Democratic nominee and gives him an edge in prediction markets.
Trump has openly supported the digital asset industry, promising to let the U operate in this field and do so commute the Silk Road founder’s sentence Ross Ulbricht. This supportive stance towards cryptocurrencies is well received by the community and stands in stark contrast to the more reserved approach of the current administration.
Prediction markets like Polymarket and PredictIt are reflecting a positive shift in Trump’s favor. Over the past week, Trump’s odds have improved by two percentage points Polymarket, reaching 56%, while Joe Biden’s odds have fallen to 37%. Likewise, PredictIt shows a slight decline in Biden’s stock, which suggests a 44% chance of re-election based on current trading prices.
The impact of Trump’s crypto-friendly policies is also visible in market activities. A notable example concerns a trader who profited significantly from it from a Trump-themed cryptocurrency, highlighting how political sponsorships can influence market dynamics.
Through it all, TRON founder Justin Sun made a strong appeal to the cryptocurrency community to support leaders who value and protect their interests, underlining the crucial role they play as stakeholders in the digital landscape.