Editor’s notice: The story has been up to date to mirror the newest motion within the election betting markets.
Former President Donald Trump has taken a 53.6% to 45.8% lead on prediction market Polymarket within the race for the 2024 presidential election.
What Occurred: Over $600 million have been traded on the remaining two candidates as Trump continues to construct a slender lead within the election odds.
Odds aggregator web site electionodds.com reveals Vice President Kamala Harris now trailing the previous President by 49.1% to 50.1% throughout completely different betting markets. The previous President additionally holds a 281-257 electoral school votes lead, in keeping with present aggregated odds.
Tesla CEO Elon Musk, who appeared with Trump at a rally on Saturday in Butler, PA, highlighted this lead on X, saying it’s “extra correct than polls, as precise cash on the road.” The billionaire entrepreneur didn’t develop on his reasoning for this argument.
Additionally Learn: Bitcoin ‘Not A Secure Haven’ However Rising Trump Odds May Gasoline A Rally: Customary Chartered
Why It Issues: In accordance with Committee for a Accountable Federal Finances, a self-proclaimed non-partisan suppose tank, U.S. nationwide debt would enhance by $3.5 trillion via 2035 in case of a Harris victory and by $7.5 trillion in case of a Trump win. The evaluation is predicated on the respective candidates’ tax and spending plans.
A current Bernstein report forecasted that Bitcoin BTC/USD might spike to $80,000-$90,000 if Trump wins and drop to $30,000-$40,000 if Harris wins. The goal is predicated on the Trump’s evident help for cryptocurrencies and pledge to make U.S. the “bitcoin and crypto capital of the world.”
Customary Chartered predicts Bitcoin to peak to all-time excessive by year-end no matter who wins the election however initiatives qa $125,000 goal in case of a Trump victory and solely a $75,000 goal if the Vice President wins the election.
What’s Subsequent: The affect of Bitcoin as an institutional asset class is predicted to be completely explored at Benzinga’s upcoming Way forward for Digital Property occasion on Nov. 19.
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