As Election Day nears, prediction markets favor Trump, but suspicion, crypto influence, and Bitcoin volatility linger...
With just one day until the U.S. presidential elections, former President Donald Trump is emerging as the frontrunner across major prediction markets., for instance, Trump led with 56.5% of the odds while Vice President Kamala Harris trailed with 43.6%, at press time., with Trump holding a 52% edge over Harris’s 48%. Taken together, both prediction markets seemed to highlight growing confidence in Trump’s potential return to the Oval Office.
This has sparked broader questions about Polymarket and Kalshi’s transparency and the accuracy of its predictions.suggested that foreign investments could be skewing the results. Especially since U.S. citizens are restricted from participating on such platforms, further complicating the reliability of these betting odds.
“From all indications, most of the money coming into Polymarket is foreign money, so I don’t think it’s an indication of anything.”In response to these rumors, co-founder Tarek Mansour took to Twitter to assert that Trump’s odds are not artificially inflated by a select group of individuals.The role of crypto in this election cycle has been notably distinct, with industry leaders actively engaging in campaign contributions.
After peaking at $73,000, BTC depreciated on the charts, with the crypto valued at $69,085.85, at press time. However, this might change soon. Historically, Bitcoin has tended to follow a bullish path during favorable election odds for Trump, hinting at a possible price surge if he secures the win.Thus, as Election Day approaches, all eyes are on how the outcome might influence BTC’s trajectory.
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