Did ‘Crypto for Harris’ help Kamala overtake Trump in Polymarket predictions?

• Kamala Harris has overtaken Donald Trump in Polymarket’s prediction charts amid voter confidence on economic issues.
• Harris’s rise coincided with Biden’s exit, sparking questions about the crypto community’s response.

After consistently leading Polymarket‘s prediction charts for the 2024 presidential election, former President Donald Trump has seen his position unexpectedly overtaken.

Polymarket data

Vice President Kamala Harris, previously considered an underdog, has surged ahead, now commanding 52% of the vote, pushing Trump to the second spot with 45%.

This shift followed a dramatic change in the Democratic ticket, where President Joe Biden’s exit from the race paved the way for Harris’s rise, causing a significant realignment in the prediction markets.

Just a month ago, Trump’s odds were at an impressive 72%, underscoring the rapid turnaround in voter sentiment. However, now things have taken a drastic turn. 

Source: Polymarket

Harris surpasses Trump in other polls too

Additionally, according to a recent poll by the Financial Times and the University of Michigan Ross School of Business, Harris has now surpassed former President Trump in voter confidence regarding economic management.

This marks the first time Harris has led Trump in economic trust since the poll’s inception nearly a year ago.

Currently, 42% of voters express more confidence in Harris’s ability to handle economic issues, compared to the 41% who favor Trump.

Source: Financial Times

Thus, while Trump’s numbers remain consistent with the previous month, Harris has seen a notable 7% increase since July, a shift that coincided with President Joe Biden’s exit from the 2024 presidential race.

This change suggested that Harriswas gaining momentum as a credible and trusted figure in economic leadership.

Remarking on the same, Erik Gordon, a professor at the university said, 

“The fact that voters were more positive on Harris than on Biden . . . says as much about how badly Biden was doing as it does about how well Harris is doing.” 

What’s behind Harris’ sudden rise?

Many are speculating that Kamala Harris’s recent campaign slogan, “Crypto for Harris,” has played a pivotal role in her sudden rise in the polls.

This shift saw her quickly catching up to Donald Trump on the Polymarket chart, where both candidates had an equal 49% chance of winning.

Following this, Harris not only surpassed Trump but continues to maintain her lead.

However, not everyone seemed pleased with this development, as noted by a satire account Burt Macklin, who remarked, 

“People seem to have forgotten Harris is a part of the Biden-Harris administration.” 

What to expect?

This also brings us back to the Biden administration’s stringent stance on cryptocurrency regulation that had previously garnered significant support for Trump within the crypto community. 

However, with the shifting political dynamics and Kamala Harris now emerging as a front-runner, it raises questions about how the crypto community might respond to her candidacy.