Michelle Obama For Democratic Nominee? Crypto Bettors Think Her Odds Have Just Tripled

Is Michelle Obama the Democratic Nominee? Crypto Bettors Think Her Chances Have Tripled

According to data from prediction market platform Polymarket, bettors think that former First Lady Michelle Obama could have a chance to become the Democratic Party nominee in the presidential election.

The market, which has attracted over $214 million in bets, shows Michelle Obama has an 11% chance of succeeding President Joe Biden, making her the second favorite behind Vice President Kamala Harris. $24 million was traded on the former first lady’s candidacy alone.

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The betting trend shows Obama’s odds have more than tripled in the last 24 hours alone, from 3% to over 10%.

This increase could be interpreted as a response to recent political developments, including President Joe Biden’s unexpected withdrawal from the race and his endorsement of Vice President Kamala Harris as the Democratic Party nominee.

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“Obama is not supporting Kamala. He is calling for an open convention. Michelle Obama could be his nominee,” said Balaji S. Srinivasan, an entrepreneur and investor. The statement, while not reflected in current betting odds, has added fuel to ongoing discussions about possible shakeups among Democratic candidates.

Speculation about Michelle Obama has been rife, but the former First Lady has said, “It would be crazy to get into politics.”

Fideum CEO Anastasija Plotnikova told Benzinga that Michele Obama has repeatedly stated that she does not plan to run for the Democratic nomination, including for the 2024 presidential nomination. As for her political stances during her time as First Lady, she has primarily focused on education, voting rights, and military families. The general public is not yet aware of her stance on cryptocurrency and the general economy. However, Plotnikova told Benzinga that a fresh candidate could be very beneficial to the public discourse.

What’s Next: For those looking to delve deeper into the future of digital assets and their potential impact on various industries, including politics, the Benzinga Future of Digital Assets event on Nov. 19 promises to deliver valuable insights.

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This article Is Michelle Obama the Democratic Nominee? Crypto Bettors Think Her Odds Have Tripled Originally Posted on Benzinga.com