Blockchain bettors showed doubt over President Biden’s performance in the first debate of the 2024 election cycle, pushing former President Trump’s winning odds to 64%.
A significant betting contract on the 2024 election outcome holds nearly $191 million, with Trump securing around $23 million and Biden about $21 million. Polymarket experienced a brief downtime at the debate’s start due to a surge in traffic.
Market sentiment reflects growing skepticism about Biden’s chances of making it to election day. Polymarket indicates Biden has less than a 70% chance of being the Democratic nominee, while California Governor Gavin Newsom has climbed to 7% and Michelle Obama to 5%.
A contract speculating if Biden would drop out of the race surged to 43% during the debate.
Both major tokens tied to Trump and Biden fell significantly, according to PoliFi token traders. CoinGecko data shows the MAGA token (TRUMP) down 11.4%, the BODEN token down 47.6%, the TREMP token down 7.3%, and the DJT token, recently linked to Barron Trump, down 3%.
Despite crypto becoming a Republican campaign issue, it wasn’t mentioned in this debate. A Polymarket contract on whether Trump would mention crypto or Bitcoin rated the likelihood at only 6%.
Independent candidate Robert F. Kennedy Jr. was not invited to the debate, but his special broadcast on X, where he responded to the debate’s questions, garnered 5.6 million views on the social media platform.
Other than that there is one more betting going on whether Trump will win Miami or not. Currently, it is 56% in favor of Trump. Ahead of the November 2024 elections, people are betting huge on it. Let’s see how debate dynamics can sway the blockchain bets!!
Also Read: Kraken CEO Jesse Powell Donates $1M in Crypto to Trump
