Trump's chances of winning the White House rose after surviving a shooting at a rally
From Yahoo Finance: 2024-07-13 22:59:00
Former U.S. president Donald Trump’s chances of winning the White House rose after surviving a shooting at a rally in Pennsylvania. Trump was unharmed, a suspected gunman was killed, and a spectator died. Trump’s odds on Polymarket jumped to 70% after the incident. Meme tokens named after Trump surged, while a Biden token fell.
The shooting led to a surge in meme coins, including “Resurrection of Trump” and “Hero Trump.” The cryptocurrency market, represented by the CoinDesk 20 index, rose 3.31%. Trump, a supporter of crypto, is slated to speak at a bitcoin conference and vows to oppose the Biden administration’s “crackdown” on the industry.
Polymarket has seen record trading volumes in 2024 with $252 million in bets on the U.S. presidential winner contract. PredictIt, another betting site, showed a similar trend with Trump’s shares rising to 65 cents. Prediction markets, believed to be more reliable than polls, offer insights based on real money predictions.
Overall, the incident boosted Trump’s chances on prediction markets and meme tokens, showcasing the impact of real-world events on digital assets. Trump’s support for crypto and opposition to regulatory measures underpin his connection to the industry. The response from traders reflects broader sentiment and predictions surrounding the upcoming election.
Read more at Yahoo Finance: Trump’s Odds of Victory Hit All-Time High on Polymarket After Shooting