Former U.S. President Donald Trump’s chances of winning the 2024 presidential election have risen to 60.1% on the prediction market platform Polymarket. In contrast, Vice President Kamala Harris’s chances have been determined at 39.8%.
Major Investments on Polymarket Raise Concerns
This noticeable difference marks a shift from earlier in the month when both candidates had nearly equal scores. The sudden spike in Trump’s winning probability has led to speculation that some supporters may have made significant investments in the market.
Recent activities on Polymarket suggest that Trump’s increasing probability may stem from large investors influencing the market. Four users, named Fredi9999, Theo4, PrincessCaro, and Michie, have invested over $25 million in Trump. “These users are attempting to boost Trump’s chances by investing large sums of money,” stated Domer.
Bitcoin PAC Supports Trump
Trump’s increased chances of winning the presidency coincide with the pro-Bitcoin 
$98,290 PAC, Bitcoin Voters PAC, airing a campaign advertisement in support of him. The advertisement broadcast in Pennsylvania highlights Trump’s growing popularity among the crypto community.
Additionally, Tesla CEO Elon Musk has expressed active support for Trump, arguing that Trump is leading on Polymarket and that prediction markets are “more accurate” than polls.
Trump’s rising election odds on Polymarket draw attention amid claims of market manipulation and support from the crypto community. These developments heighten public interest in the election and fuel various speculations about how the results might unfold.
