Polymarket: Trump’s Chances of Winning 2024 US Election Increase!

Bittime - In the first US presidential debate between Donald Trump and Joe Biden, crypto prediction market Polymarket predicted that Trump's chances of winning reached a record high of 69%.

Polymarket Predicts the Winner of the 2024 US Presidential Election

Polymarket is a crypto prediction platform that uses blockchain technology to facilitate betting on various events, including the outcome of the presidential election. In recent years, the platform has attracted the attention of many users due to its accuracy in predicting the outcome of major political events.

Polymarket market predictions are often considered reliable indicators because they are based on real bets from users who place their money on outcomes they believe in. After the debate took place, Polymarket noted that Trump's chances of winning the 2024 presidential election jumped significantly.

Even though the data has fallen, it currently shows that Trump's chances of winning are at 65%, while Biden's chances are only 29%. The funds collected in this betting pool reached 187 million US dollars.

Source: Twitter.com/@Polymarket

Polymarket Prediction Data Analysis

In the 2024 election, the significant increase in Trump's odds of winning on Polymarket reflects strong market sentiment. Before the first debate, Trump's chances of winning were at a lower rate.

However, after the debate, that figure jumped to 69%. This shows that Polymarket users believe that Trump's performance in the debate strengthens his position in the upcoming election.

In contrast, Biden's odds of winning remain stable at 29%, indicating that despite some support, many Polymarket users still doubt Biden's ability to win this election.

Factors such as economic policy, immigration, and foreign policy discussed in the debate may have influenced users' views of both candidates.

The Impact of the Presidential Debates

The presidential debate between Trump and Biden hosted by CNN in Atlanta, Georgia, played an important role in shaping public opinion. This debate discusses various important issues such as the economy, abortion, immigration, and foreign policy.

However, technology and the digital asset industry are not widely discussed, despite hopes from the crypto industry to get clarification on regulations that might affect their future.

Many political observers believe that the debate gave Trump an edge due to his clearer and more forceful voice, although many of his statements were disputed by fact checkers. On the other hand, Biden sounded weaker as he reportedly had a cold, which is possible influence performance in the eyes of the public.

Impact on the Crypto Industry

For the crypto industry, the results of this presidential election are very important. Many industry players hope that Congress and the next administration will be friendlier to digital asset businesses.

To support pro-crypto candidates, companies like Coinbase, Ripple, and Andreessen Horowitz have poured large sums into political action committees (PACs) like Fairshake.

With increasing interest in political betting on Polymarket, more and more people are using the platform to place their bets based on predicted election results. This not only provides insight into public views, but also helps map out likely outcomes based on betting data.

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