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Kamala Harris Odds to Replace Joe Biden as Democratic Presidential Nominee Rise for Crypto Bettors, Her-Themed Memecoin Soars 126%
Kamala Harris Odds to Replace Joe Biden as Democratic Presidential Nominee Rise for Crypto Bettors, Her-Themed Memecoin Soars 126%
Vice President’s Chances My life is nice Replacement of the President Joe Biden as the Democratic candidate for the 2024 presidential election surged on a cryptocurrency prediction market on Tuesday.
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What happened: Polymarketwhich calls itself the world’s largest prediction market, has seen the odds of Harris becoming the presidential nominee rise from 8% to 27% in the last 24 hours.
While President Biden remains the top pick for bettors on the platform, with odds in his favor at 58%, Harris’s significant increase in odds reflects a marked shift in opinion.
For those curious, Polymarket is a decentralized prediction market that allows users to bet on major global events using cryptocurrency. Users can buy or sell outcome shares, which can be redeemed for $1 if the outcome is correct and become worthless if it is incorrect.
Because matter: The increasing odds in favor of Kamala Harris were likely due to Biden’s lackluster performance in last week’s presidential debate against the republican challenger Donald TrumpCritics, including a fellow Democrat in the House of Representatives, have called for his withdrawal from the presidential race.
On Polymarket, the odds of Biden dropping out of the presidential race were 56% at the time of writing. Additionally, the vast majority of traders on the platform believed Trump would win the race for the White House.
Price Action:This changing dynamic has impacted the PolitiFi cryptocurrency tokens tied to these leaders. Kamala Horris (CRYPTO: KAMA), a coin that parodies Harris, has jumped 126% in the last 24 hours, according to CoinGecko, while Jeo Boden (CRYPTO: EARTH) fell by 27%.
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This article Kamala Harris Odds to Replace Joe Biden as Democratic Presidential Nominee Rise for Crypto Bettors, Her-Themed Memecoin Soars 126% originally appeared on Benzinga.com