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Reading: Donald Trump Sees Increased Odds of Winning the 2024 Presidential Election
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COINTURK NEWS > Cryptocurrency News > Donald Trump Sees Increased Odds of Winning the 2024 Presidential Election
Cryptocurrency News

Donald Trump Sees Increased Odds of Winning the 2024 Presidential Election

In Brief

  • Trump's chances of winning the election have significantly increased on Polymarket.

  • Large investments by users raise concerns about market influence.

  • Support from the Bitcoin community and figures like Elon Musk adds to the dynamics.

Fatih Uçar
Fatih Uçar 7 months ago
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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%.

Contents
Major Investments on Polymarket Raise ConcernsBitcoin PAC Supports Trump

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 $103,183 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.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Fatih Uçar 19 October, 2024 - 12:37 pm 19 October, 2024 - 12:37 pm
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