The probability of former US president Donald Trump winning the 2024 presidential election has risen to 60.1% on the prediction market platform Polymarket. The probability of Vice President Kamala Harris winning is determined as 39.8%.
Large Investments in Polymarket Cause Concern
This marked difference was a change from earlier in the month, when both candidates’ scores were nearly equal. The sudden increase in Trump’s odds of winning has led to speculation that some supporters may have made large investments in the market.
Recent activity at Polymarket has raised concerns that Donald Trump’s rising odds could be due to some big investors influencing the market. Four users named Fredi9999, Theo4, PrincessCaro and Michie invested more than $25 million for Trump. “These users are trying to increase Trump’s odds of winning by depositing large amounts of money,” Domer said.
ETF Store President Nate Geraci stated that such large positions in Polymarket are intended to provide momentum for Trump. Crypto investor Adam Cochran also added that this increase in such a prediction market could be used to cast doubt on the election results if Trump is defeated.
Bitcoin PAC Supports Trump
Increase in Donald Trump’s chances of winning the presidency, pro-Bitcoin PAC, Bitcoin 
$68,381 It parallels Voters PAC’s release of a Trump-backed campaign ad. The ad, released in Pennsylvania, highlights Trump’s growing popularity among the crypto community.
At the same time, Tesla CEO Elon Musk stated that he actively supports Trump, arguing that Trump is ahead on Polymarket and that prediction markets are “more accurate” than polls.
Donald Trump’s rising election chances on Polymarket are attracting attention with allegations of market manipulation and support from the crypto community. While these developments increase interest in the election, they lead to various speculations about how the election results will be shaped.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
