Whereas viewers and commentators would possibly debate who received final night time’s presidential debate between Donald Trump and Kamala Harris, Polymarket bettors hoping that they’d reference Bitcoin below the nationwide highlight have been undoubtedly losers.
Bitcoin and cryptocurrency went unmentioned throughout Tuesday’s high-stakes matchup between the Republican and Democratic nominees, souring bets on crypto prediction market platform Polymarket within the course of.
Merchants wagered roughly $217,000 and $502,000, respectively, on whether or not Trump or Harris would reference Bitcoin or crypto on the talk stage. Simply earlier than the verbal sparring started, Trump had a 26% probability of fulfilling that imaginative and prescient versus Harris’ 9% odds, in line with bettors.
Whereas Polymarket has emerged as a device for forecasting the last word end result of November’s election, this is not the primary time that bettors on the blockchain-based platform have misplaced money wagering on Bitcoin and crypto dialogue in a debate.
Earlier than Trump confronted off in opposition to President Joe Biden in June, Polymarket merchants penciled in a 57% probability that Trump would point out Bitcoin or crypto. Previous to that spectacle, Polymarket merchants had ponied up $345,000 on the potential Trump reference.
In the meantime, the crypto trade has been pouring huge quantities of money into 2024 elections, supporting crypto-friendly candidates whereas making an attempt to stifle skeptics. Harris has left the difficulty of crypto regulation untouched since her upstart candidacy started, whereas Trump has gone all-in as a self-described “crypto president.”
Stand With Crypto, a crypto advocacy group, was amongst these hoping that Bitcoin or crypto could be talked about throughout Tuesday’s debate.
The nonprofit initially launched by Coinbase inspired digital asset house owners to ship ABC, the talk’s host, a letter asking moderators to incorporate a crypto query.
“Giving the key Presidential candidates an opportunity to weigh in on this transformational expertise […] would go a great distance in direction of educating the voters,” a pre-drafted letter on Stand With Crypto’s web site said.
Earlier than Trump and Biden squared off months in the past, the nonprofit mustered 2,300 emails asking CNN to incorporate a crypto query in that matchup, in line with a press launch.
Thus far, Bitcoin and crypto haven’t had a high-profile political second, other than Trump’s July speech on the annual Bitcoin Convention in Nashville. Nonetheless, Harris’ workforce indicated Wednesday that the vice chairman could be open to a different televised matchup.
Edited by Andrew Hayward
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