Kamala Harris’ Election Win Odds Hits 47%, Is Trump’s Bitcoin Strategy At Risk?

Democratic Party presidential candidate Kamala Harris’ odds of winning the election rose to a new all-time high amid recent support from the crypto industry, according to prediction markets. This challenges Donald Trump’s presidential run and raises questions on pro-crypto election after Harris named Minnesota Governor Tim Walz as Vice President candidate.

Harris expressed optimism about her win, saying “With Tim Waltz by my side, and with all of you at our sides—let us fight for the promise of America’s future.”

Kamala Harris Election Odds Hits All-Time High

Polymarket prediction market data shows that Kamala Harris’ odds of winning the presidential election are slowly picking pace. According to the latest bets, the odds for Harris increased by 1% to hit an all-time high of 47% and Donald Trump’s chances dropped by 1% to 51.

 

This move comes as Democratic presidential nominee Harris picked Tim Walz for the Vice President position. The selection of anti-crypto Walz raised questions about Harris’ stance on supporting the crypto industry on developments including crypto regulatory clarity. Kamala Harris has now surpassed Joe Biden’s peak election odds.

Meanwhile, crypto executives and pro-crypto investors such as Ripple CEO Brad Garlinghouse and billionaire Mark Cuban have supported Harris in her presidential run. Mark Cuban faced criticism from the crypto industry for his backing of Harris and her pick Tim Walz.

As reported earlier by CoinGape, Democrats started a Crypto4Harris Group to increase their image in the crypto industry. The group is to have its first town hall next week with popular investors like Mark Cuban and Anthony Scaramucci attending this event.

Crypto Community Raises Concerns Over Trump’s Crypto Plans

The recent increase in popularity of Kamala Harris among crypto executives and pro-crypto investors have raised concerns for the crypto community. This also sabotages Donald Trump’s plans to help make crypto mainstream and fire US SEC Chair Gary Gensler.

Trump and Senator Cynthia Lummis have pushed for the US bitcoin reserve. Lummis submitted a bill requiring the U.S. Treasury to buy a million bitcoins over the next five years. Republicans suggested the government to hold coins for at least 20 years, with plans to reduce the US debt by selling some bitcoins.

The crypto market could likely face selling pressure as Harris’ win is bearish for Bitcoin. BTC price saw a massive rally after Trump advocated for Bitcoin reserve, but Harris has not promised anything for crypto yet, including no signs of plans regarding Gensler’s resignation.

The crypto market now patiently awaits former President Trump’s interview after Elon Musk confirmed that it will happen on Monday on the X platform.

Also Read: Mark Cuban’s Backing For Harris And Tim Walz Faces Backlash

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