⚡ Post-Debate Polymarket: Harris Catches Up to Trump
posted 11 Sept 2024
After the recent U.S. presidential debate, prediction markets revealed a tie between Vice President Kamala Harris and Donald Trump. The official data on how voters reacted to the debate will be available in the coming days.
As reported by the betting platform Polymarket, Harris now has a 49% chance of winning the election, a 3% rise following her confrontation with Trump. Trump holds an identical 49% probability. Harris’s position on digital assets remains unclear, while a Trump victory is anticipated to favor the growth of the crypto industry.
The real drama, however, is unfolding on Polymarket. An anonymous trader from QCP Capital, a crypto options trading platform, bet $1.2 million on Harris securing the presidency. If his wager pays off, the investor could walk away with over $2.6 million.
Polymarket allows users to place predictions on almost any event. For example, you can currently invest in futures on whether Trump will claim the official debate results were rigged. Some traders have even earned money betting on whether the former president would say words like “cat” or “tampon” during the debates.
Whether to trust Polymarket bets is a personal choice, but prediction markets are gaining traction, frequently cited by CNBC and QCP Capital analysts. The latter expects reduced risk appetite in the crypto sector amid the ongoing election race. With the outcome on November 5 still uncertain, the debates have left even some Trump supporters questioning his chances.
Markets crave stability, but elections rarely provide it. This could signal that volatility could very well make a comeback on the charts.
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