Kamala Harris’ extraordinary rise in Polymarket betting odds marks a significant shift in the election landscape, surpassing Donald Trump.
Election betting has changed significantly due to Harris’ extraordinary rise in Polymarket odds.
There has been a noticeable change in the campaign for US President as Kamala Harris has risen to the top of Polymarket’s betting odds. Harris has a 52% chance of winning as of August 12, surpassing Donald Trump for the second time. This increase is especially noteworthy because, as of June 27, shortly before Biden withdrew, she had only a 1% chance of winning. On August 10, Harris crossed the 50% threshold for the first time. On August 6, she announced that Minnesota Governor Tim Walz would be her running mate for the vice presidency.
$574 million has been wagered on the election result of Polymarket, a well-known prediction market, demonstrating the tremendous level of interest and conjecture around this year’s contest.
As Donald Trump gained popularity and was called the “Bitcoin candidate,” his chances of winning the election increased and reached 72% on July 16. This was in line with the surge in Bitcoin, which at the Bitcoin Nashville conference on July 29 topped $70,000. However, since then, there has been a drop in the value of Bitcoin and Trump’s odds. But as of late, the association has needed to be stronger. Additionally, Trump must catch up on marketplaces for predictions and non-crypto betting websites.
A related development is that Elon Musk has announced on X (formerly Twitter) that he will interview Donald Trump live on August 12 at 8 p.m. ET, focusing further on the candidates as the election draws near.
