US Election 2024: Donald Trump’s Odds Spike with $8.8M Bet from Crypto Whale

The post US Election 2024: Donald Trump’s Odds Spike with $8.8M Bet from Crypto Whale appeared first on Coinpedia Fintech News

Donald Trump is working hard to win over the crypto industry in this election. He wants to make America “the crypto capital of the planet,” has started his crypto project, spoke at the Bitcoin conference in Nashville, and plans to fire SEC Chair Gary Gensler right away if he wins. 

Recent insights from Lookonchain reveal that the chances of Donald Trump winning the upcoming U.S. presidential election have surged to 67%, significantly higher than Kamala Harris’s 34%. This shift in probability is attracting notable interest, particularly from cryptocurrency investors. A prominent whale, identified as GCottrell93, has withdrawn an impressive $1 million in USDC from OKX, further emphasizing his confidence in Trump’s chances. 

With Trump’s campaign gaining momentum it will be interesting to see who wins the elections this time. Let’s see what the predictions market unfolds. 

Major Whales and Bets Impact Prediction Market

In just one week, GCottrell93 has committed a staggering $8.8 million to betting on Trump’s election victory, highlighting the growing sentiment around his campaign. 

Lookonchain reports that significant bets entered Polymarket in October, dramatically affecting the prediction market. Currently, Donald Trump’s chances of victory are estimated at 66.7%, while Vice President Kamala Harris has a 33.4% chance.

Ten whale accounts have played a key role in this increase, with individual stakes ranging from $1.56 million to $18.6 million. The largest bet came from an account known as “Theo4,” while other high-stakes gamblers, such as “Fredi9999” and “zxgngl,” placed bets of $11.65 million and $7.82 million, respectively. These substantial wagers indicate strong confidence in Trump’s chances.

The political landscape is intense, and with significant financial backing from influential investors, Trump’s potential comeback is increasingly becoming a focal point in both political and crypto markets.

Trump is back in action and this time he is winning the betting market. Do you see him winning the Nov. 5 race? We will come to know soon.