Donald Trump has retaken a lead over Kamala Harris on the crypto prediction market Polymarket, with odds now standing at 52% for Trump compared to 47% for Harris. Harris has lost what was a 10-point lead on Trump before this week’s DNC.
This shift comes amid a notable increase in the likelihood of Robert F. Kennedy Jr. endorsing Trump, as his chances of doing so this month went from 14% to 46% following comments made by his running mate Nicole Shanahan on the Impact Theory podcast. The podcast revealed considerations of dropping out to endorse Trump, which significantly influenced the prediction market’s perception.
The situation is further complicated by reports that RFK Jr. was exploring potential roles within a Harris administration just last week.
Despite this development on Polymarket, other prediction platforms and polls still show Harris in the lead. On PredictIt, Harris maintains an advantage, and globally, odds have shortened for Trump, though Harris remains slightly ahead, according to OddsChecker. The divergence between Polymarket and other markets highlights the unique forces within crypto-native platforms, where Trump’s pro-crypto stance may resonate more with investors.
Trump’s odds on Polymarket have fluctuated from 72% to 47% before reaching the current 52%. This increase coincided with Harris’s odds dropping from 54% to 49%. A lack of mention of either Bitcoin or crypto in the Democrat policy launched during the DNC could be a factor in the Polymarket swings.
Overall, while Trump’s lead on Polymarket marks a significant development, the broader prediction market landscape still favors Harris, stressing the multifaceted nature of political forecasting in the context of the 2024 US presidential election.
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Source: https://cryptoslate.com/harris-loses-lead-on-polymarket-as-odds-rfk-jr-will-endorse-trump-jump-38/