Independent candidate Robert F. Kennedy Junior announced his withdrawal from the 2024 presidential election in the United States. According to a document submitted to the State Department, Kennedy withdrew from the election race on August 22. This development occurred before Kennedy’s scheduled speech in Arizona on August 23. It happened a few days after Donald Trump expressed openness to having Kennedy play a role in his administration if he withdrew as an independent candidate.
Trump Takes the Lead Again
The results of the US elections can significantly impact global crypto regulations, as the United States, the world’s largest economy, is often considered a leading authority in setting international regulatory standards.
Trump has once again emerged as the most likely candidate to win the US elections in prediction markets. According to Polymarket data, 51% of users at the time of writing predicted a Trump victory, while only 47% believed in the victory chances of Democratic presidential candidate Kamala Harris.
Trump’s chances rose on August 12, with Polymarket odds showing Trump leading Harris 52% to 46%. This increase continued as more people began predicting a possible Trump presidency.
US Elections and the Crypto Market
RFK may want to play a significant role in a potential Trump administration. RFK’s running mate Nicole Shanahan proposed joining forces with former President Trump on a unity ticket. She hinted at a possible partnership in an interview on the Impact Theory podcast on August 20:
“I think we need to sit down and see if we can make real change, and if this is a unity party, I think it’s something we absolutely owe to the American people.”
Shanahan stated that the decision to withdraw from the 2024 presidential campaign and join forces with former President Trump was based on the possibility of a Harris-Walz presidency. She noted that the Kennedy-Shanahan campaign disproportionately took more votes from the GOP frontrunner than from the Democrat-led campaign.
RFK Jr.’s promise to end anti-crypto policies was well received by the crypto community. The independent presidential candidate had pledged to back the US dollar with Bitcoin in 2023 before the topic became a campaign issue used by former President Trump.
