Polymarket punters have been betting on vice president Kamala Harris to secure the Democratic ticket, just 24 hours after Joe Biden was found positive for COVID-19.
Bettor’s betting on Polymarket “Democratic nominee 2024” have wagered $13.6 million to bet that Kamala will win over Joe Biden. Harris’ odds of representing Democrats in November increased from 25% to 52% Thursday.
Biden’s odds have moved in the opposite direction, from 55% to 30% by press time.
Following the announcement by White House Press Secretary Karine Jean-Pierre that President Biden was COVID-19, bettors on the decentralized prediction platform Polygon leaned toward Harris. The majority of the $129.9m locked into the Polymarket contract up until August 21 is still bets on Biden.
Biden dropping out of the presidential race? has also seen odds jump as high as 74%. Crypto-speculators have become increasingly confident that Biden will resign due to health concerns. The incumbent president said to BET News on Wednesday that only a serious medical condition could prompt a resignation.
Defi degens invested in the political development of the U.S. as U.S. election happenings weighed on crypto activity. Memecoins based on Biden’s perceived replacements in the Democratic Party surged. The data shows that PolitiFi memecoins with misspelled names like Gabin Noosum and Kamala Harri (KAMA) have more than doubled over the last 24 hours.
Trump coins fell by up to 15%, as the former president continued his pro-crypto tour. Donald Trump’s new stance is controversial due to his anti-crypto rhetoric in the past and reports that he almost banned Bitcoin ( BTC) when he was first at the White House.
