Thomas Daniels
The probability of former U.S. President Donald Trump winning the upcoming U.S. presidential election has surged to an unprecedented high, following a thwarted assassination attempt, according to bettors on the decentralized prediction market platform Polymarket.
Trump, who was injured during a rally shooting in Pennsylvania, saw his odds of securing the presidency increase by approximately 10 points to 70% on Polymarket. This platform allows users to place bets on various events using cryptocurrency. A Secret Service spokesperson confirmed Trump’s safety after the incident, as reported by The New York Times. The altercation resulted in the death of a suspected assailant and a bystander.
In the aftermath, defiant images and videos of Trump with a bloodstained face making a fist-pump gesture went viral on social media. This event occurred amidst ongoing public discourse about the missteps and perceived weaknesses of his rival, current President Joe Biden.
Following the incident, meme tokens linked to Trump, known as “PoliFi” tokens, experienced a surge. For instance, MAGA rose by 47% in 24 hours to $9.32, while TREMP increased by 22% to $0.4866, based on data from crypto.news. Conversely, BODEN, a meme coin inspired by President Biden, saw a 21% decline over the same period to $0.03181. These tokens, popular for speculating on election outcomes, offer no actual payout to holders if their associated candidate wins.
Currently, Biden’s odds of securing the election on Polymarket stand at 16%. Trump, who has pledged to support Bitcoin should he win the 2024 presidential election on November 5, has been confirmed as a featured speaker at a Bitcoin conference later this month.
In a statement last month in Washington, D.C., Trump noted, “I will ensure that the future of Bitcoin is forged in the U.S. and not relegated abroad. I will uphold the right to self-custody.” The Biden administration has not interfered with law-abiding crypto holders.
After generating income from his digital trading card non-fungible tokens (NFTs), Trump has become increasingly involved with cryptocurrencies and announced his support for the sector in late May. He has also begun accepting campaign contributions in various digital currencies, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Dogecoin (DOGE).
Following Trump’s narrow escape at his Pennsylvania rally, where a bullet grazed his ear, the price of Bitcoin has climbed above $60,000 per unit, rising from earlier lows of $53,000 this month. At the time of this report, the leading cryptocurrency was trading at $59,970.
