- Trump positive aspects momentum in betting odds, surpassing Harris amid Musk’s endorsement.
- Trump-themed meme cash surge whereas Harris-themed cash decline.
In a major flip of occasions amidst the 2024 presidential race, Republican candidate Donald Trump is regaining momentum, surpassing Democratic counterpart Kamala Harris in betting odds.
Trump tops all prediction markets
In response to the most recent knowledge from Polymarket, Trump now holds 53.35% of the projected votes, whereas Harris trails at 46.2%.
Supply: Polymarket
Moreover, the Election Betting Odds tracker, which aggregates knowledge from 5 main markets, signifies Trump is positioned at a 50.6% chance of successful in November, marking a 1.5% improve over Harris’s 48.7%.
This marks a substantial shift from the earlier week when Harris loved a 3.5-point benefit over Trump.
Supply: Election Betting Odds
The timing coincides with billionaire Elon Musk’s endorsement and attendance at a Trump rally within the state, sparking hypothesis in regards to the affect of Musk’s help on Trump’s rising odds.
Elon Musk backs Trump
Most not too long ago, on eighth October, Musk intensified his endorsement of Trump throughout an interview with Tucker Carlson, declaring his full allegiance to the previous president.
Musk mentioned,
“My view is that if Trump doesn’t win this election, it’s the last election we’re going to have,”
He added,
“If [Trump] loses, I’m f**ked.”
The story up to now
Initially, Trump loved a strong lead within the polls, sustaining his benefit for a number of weeks.
Nevertheless, following the first presidential debate, Harris managed to overhaul him, leveraging a perceived slip in Trump’s efficiency.
Regardless of Trump’s notable backing from outstanding figures within the crypto neighborhood, together with the Winklevoss twins—Cameron and Tyler, who every contributed $1 million in Bitcoin [BTC] to his marketing campaign—Harris has garnered her personal influential help.
Harris has additionally acquired vital help from notable figures within the cryptocurrency sector, together with Mark Cuban, the famend investor in Shark Tank.
He mentioned,
“I’m not a Democrat, I’m independent. I am just working with the Harris campaign that’s it. I just think she’s a better candidate.”
Gensler’s management beneath menace
That being mentioned, ought to Trump win the upcoming election, the implications might ripple all through the Securities and Change Fee (SEC).
It’s because Trump had made headlines along with his daring promise to hearth Gary Gensler, the present SEC chairman, on his first day in workplace.
In reality, there are already rumors suggesting that Trump would take into account appointing Dan Gallagher, the Chief Authorized Officer of Robinhood, as Gensler’s successor.
Influence on the memecoin market
In the meantime, the sentiment throughout the meme coin market has reacted strongly to those developments.
Over the previous 24 hours, Kamala Harris-themed meme coin, Kamala Horris [KAMA], noticed a decline of 1.9%, whereas Trump-themed coin, Doland tremp [TREMP], surged by 5.3%.
Notably, different Trump-related meme cash additionally skilled exponential development; Tremendous Trump [STRUMP] skyrocketed by 51.1%, Maga [TRUMP] rose by 29.05%, and Darkish Maga [DMAGA] gained 29.40%.
