Bitcoin (BTC) in the upcoming presidential elections, according to Polymarket, the world’s largest prediction market 
$60,797 Pro-candidate Donald Trump holds a 13% lead over Kamala Harris.
Bitcoin Regulations Criteria
Trump coming first with over 55% of the votes makes no sense and confirms that crypto prediction platforms are speculative. This is exactly why the CFTC appealed to the court and expressed its objections to the prediction platforms. Reuters and other polls show Kamala Harris ahead of her rival by several points.
On the other hand, there is not much time left until the elections. There will be US elections at the beginning of November and cryptocurrency investors will have even more sleepless nights. Harris is the favorite candidate for now, and the Democratic administration continues to increase its pressure on cryptocurrencies despite the elections being weeks away. This makes it mandatory for cryptocurrency companies to consider alternatives, including emigrating from the USA, if Trump does not win the elections.
Let’s open a small parenthesis, one of the main triggers of today’s decline was the sale of Trump Win shares from GCR wallets. Although the massive sales were attributed to Trump’s potential to lose the election, a statement was made later and it was announced that this was done for an arbitrage opportunity.
Release of Ross Ulbricht
We’re seeing big predictions for Bitcoin this election. While Trump promises more favorable regulations compared to Harris, Harris has maintained an aggressive stance on the sector for four years and has not offered any regulatory proposals.
The Bitcoin community has been pushing for Ubricht’s release for a long time. Ross’s release could be an important step for the Bitcoin industry, and the only presidential candidate promising to do so is Trump. So why should he be released? This name, which developed the Silk Road platform, has done a great job to make Bitcoin known around the world. That’s why the Bitcoin community is indebted to him. This is disputed by Ross, who feels that he has created a platform where people can shop and is being held too much to blame for the misdeeds of people who use the platform there for crimes. Ross, who was sentenced to two life sentences without parole and an additional 40 years in prison, has therefore become on Trump’s agenda. It seems essential to win these elections in order to be released.
In summary, this situation in Polymarket is shaped by Trump’s promises of support for Bitcoin and Harris’ opposition to the industry. For the Bitcoin community, this choice is critical in terms of both regulations and Ross Ulbricht’s situation.
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.
