As a seasoned crypto investor with a decade-long journey through the digital asset landscape, I find myself intrigued by the recent developments in the political sphere. The announcement of Kamala Harris as the Democratic candidate and Tim Walz as her running mate has stirred quite a buzz on Polymarket. While Harris’ odds have surged to an all-time high, the choice of Walz, who leans towards stricter crypto regulations, has sent ripples through our community.
Confidence among Polymarket users is growing that Democratic nominee Kamala Harris could become President, boosted by a significant revelation.
Betters on PredictIt, a betting platform, placed increased bets that Kamala Harris would defeat former President Donald Trump in the election, following her selection of Minnesota Governor Tim Walz as her running mate.
In light of Democrats announcing a cryptocurrency skeptic as Kamala Harris’ running mate, the likelihood of her winning this year’s presidential election peaked at a record 46%, according to Polymarket predictions.
The “2024 Presidential Election Winner” market is, by and large, the most significant election prediction pool offered by Polymarket, amassing over half a billion dollars ($508 million) spent on outcome shares. On this platform, shares backing Trump were traded at 53 cents each, indicating a 53% probability of a Republican win. Approximately $64.7 million was wagered on this outcome, while around $50.8 million was bet on Harris.
Polymarket and industry react to Harris-Walz Dem ticket
Despite Harris’ chances improving following his selection of Walz, the governor of Minnesota has not expressed a favorable stance towards cryptocurrency. On the other hand, as Matt Sigel, Head of Digital Asset Research at VanEck, highlighted, Walz advocates for tighter crypto regulations to safeguard America’s economic and financial security.
1. The general feeling among crypto social media users appears to be bearish as Walz has partially examined digital assets or chosen not to comment on the industry.
The industry finds itself in a state of uncertainty, balancing hopes raised by Trump’s Bitcoin (BTC) statements against the possibility that a Harris-led administration might reassess its relationship with the rapidly growing cryptocurrency sector, potentially mending frayed ties.
Governor Tim Walz of Minnesota has expressed support for strengthened cryptocurrency regulations aimed at preserving the integrity and resilience of the financial system, as well as shielding consumers from possible scams and misuse.
— matthew sigel, recovering CFA (@matthew_sigel) August 6, 2024
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2024-08-06 19:48