News

Donald Trump Odds on Polymarket Dominate Thanks to Musk’s Influence

Donald Trump Odds on Polymarket Dominate Thanks to Musk's Influence

Key Points:

Donald Trump odds on Polymarket have increased to a 53% chance of winning the upcoming election, surpassing Kamala Harris’ 46% after her brief August lead.
A Polymarket poll shows an 18% chance of Trump appointing Elon Musk to a cabinet role if he wins the election.

Republican candidate Donald Trump now leads his Democratic challenger, Kamala Harris, in the newly released Polymarket betting odds.

Source: Polymarket

Donald Trump Odds on Polymarket Are Gradually Dominating

Per the platform, which has a track record of over $803 million in assets, Trump now has a new 53% chance to win this election against Harris‘ 46%. This change comes after a short surge from Harris last August when her odds surged over 55% to make her the top candidate; however, her lead has since faded out as the Donald Trump odds steadily recovered.

Trump was at the height of his campaign this July when the chances of the former President winning stood at 71%. The Donald Trump odds dove back down to 44% in August; however, when President Joe Biden announced he wouldn’t be running for re-election, he boosted Harris as a candidate. Over time, though, Trump has gained ground as Harris’ support among bettors has softened.

Trump Champions Crypto and Regulatory Reform in New Speech

Putting aside the general election forecast, another Polymarket poll with $77,000 in assets speculates on a possible Trump win combined with his appointing of Elon Musk to a cabinet position. The odds for that jumped to 18% as of September 5 from 12% on September 4.

Meanwhile, Trump has kept the crypto space in mind while promising to make the US crypto capital in a speech at the Economic Club of New York. He also repeated his vow to cut regulations across many industries, offering that for every new regulation taken on, ten existing regulations must be sliced.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.