Donald Trump has widened his lead over Kamala Harris on Polymarket as the 2024 U.S. presidential election approaches.
After a period of near parity in mid-August, Trump’s odds on Polymarket have surged several percentage points, with 53% of bettors favoring him compared to 47% for Harris.
This shift marks a comeback for Donald Trump, whose odds dipped after Joe Biden announced he wouldn’t seek re-election, resulting in a temporary boost for the current Vice President.
Despite the rise to 53%, Trump’s chances are much lower than the 72% peak following the Bitcoin 2024 conference in late July in Nashville, Texas.
Trump and crypto
Trump’s resurgence can in part be attributed to his strong appeal among crypto investors, a demographic increasingly influential in this election, according to Coinbase.
His pro-crypto stance, including promises to support the Bitcoin (BTC) sector and blockchain initiatives, has resonated with crypto heavyweights.
On Aug. 27, Trump announced announced his fourth NFT collection, “Series 4: The America First Collection,” offering digital trading cards via Bitcoin Ordinals. Two days later, he announced plans to make the U.S. the “crypto capital of the planet” if re-elected, referencing his initiative, World Liberty Financial.
On the other hand, Harris’s campaign has struggled to maintain momentum among Polymarket users, particularly after key events like the Democratic National Convention, where crypto was notably absent from the discourse.
During this election season, both parties have catered to the crypto crowd, aiming to appeal to the crypto community and its financial contributions. As a result, Polymarket election bettors have been on quite the ride, and it’s expected that things will only get crazier as election season approaches.
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