Crypto gamblers have bet $44 million on Trump winning in November

Crypto traders are increasingly betting on the outcome of the 2024 presidential election on Polymarket, a popular crypto gambling platform. More than $44 million is being placed behind a Donald Trump victory this fall, while $25 million is being placed on live bets on Vice President Kamala Harris winning.

At press time, the gambling site was allowing users to spend just 65 cents to bet either way, with a “no” vote costing a relatively high 68.4 cents for Harris and just 36 cents for Trump.

There is a third contender in the same Polymarket contest — First Lady Michelle Obama, who has not announced her intention to enter the political race. Despite no announcement that Obama would be entering the contest, crypto gamblers have placed more than $22 million in bets on Michelle Obama’s victory.

Meanwhile, a cryptocurrency firm that wants to reveal the identity of the creator of the Solana token tied to former president Donald Trump has announced that it will offer a $150,000 reward to anyone who successfully reveals his identity.

Blockchain intelligence firm Arkham Intelligence announced on social media this summer that it was seeking the true identity of the founder of the Solana token. “$150,000 to the first person to definitively prove the identity of the creator of $DJT,” Arkham Intelligence said.

The Trump brand is apparently popular for cryptocurrencies, as evidenced by the abundance of Trump-themed meme coins that have been released in recent months. According to CoinMarketCap, one Trump coin, dubbed the “Doland Tremp (TREMP)” meme coin, has a market cap of around $43 million.

Trump has strongly embraced cryptocurrencies in recent months, offering to accept campaign donations in crypto and meeting with the CEOs of multiple crypto mining companies.

Trump’s running mate JD Vance also revealed that he holds more than $100,000 worth of cryptocurrency. With the confirmation of the Republican vice presidential candidate, Polymarket gamblers are also speculating on potential Democratic vice presidential candidates. At the time of writing, the leading candidates backed by Polymarket gamblers are Arizona Senator Mark Kelly, Pennsylvania Governor Josh Shapiro and North Carolina Governor Roy Cooper.