Crypto gamblers have bet $44 million on Trump winning in November
Crypto traders are increasingly betting on the outcome of the 2024 presidential election on Polymarket, a popular crypto gambling platform. More than $44 million has been put behind Donald Trump emerging victorious this fall, while $25 million is being pumped into live bets that Vice President Kamala Harris will win.
At the time of writing, the gambling site allows users to spend as little as 65 cents to place a bet in either direction, while voting "no" costs a relatively steeper fee of 68.4 cents for Harris and only 36 cents for Trump.
The same Polymarket contest also features a third contestant – former First Lady Michelle Obama, who has not announced an intention to enter the political race. Crypto gamblers have placed bets of more than $22 million on Michelle Obama's victory, despite no announcement that Obama is entering the contest.
Meanwhile, Arkham Intelligence, a blockchain intelligence company, announced on social media this summer that it was on the hunt to unmask the identity of the creator of a Solana token tied to former president Donald Trump. "$150,000 to the first person to definitively prove the identity of the creator of $DJT," Arkham Intelligence said.
The Trump brand is experiencing a surge in popularity in the cryptocurrency space, evidenced by the plethora of Trump-themed meme coins that have launched in recent months. One Trump coin called the "Doland Tremp (TREMP)" meme coin has a market capitalization of nearly $43 million, according to CoinMarketCap.
In recent months, Trump has strongly embraced cryptocurrencies, offering to accept campaign donations in crypto and meeting with the CEOs of multiple crypto mining companies.
Trump's running mate, J.D. Vance, has also declared more than $100,000 worth of crypto holdings. With the Republican vice presidential nominee confirmed, Polymarket gamblers are also weighing in on possible Democratic vice president nominees. At the time of writing, Polymarket gamblers speculate that Democrats may choose Arizona senator Mark Kelly, Pennsylvania governor Josh Shapiro, or North Carolina governor Roy Cooper as a possible running mate for Harris.