Trump overtakes Harris after RFK Jr. withdrawal

Donald Trump surpassed Kamala Harris at the Polymarket after Robert F. Kennedy Jr. withdrew from the US presidential race.

Polymarket bettors have placed $87 million in bets that Republican candidate Donald Trump has a 51% chance of being elected as America’s 48th president after the pro-Bitcoin independent candidate withdrew from the ballot.

Democratic candidate Kamala Harris’s run ahead of Trump on the decentralized prediction market is over — at least for now. On-chain speculators briefly backed a Harris win in November amid whispers of a crypto reset for Democrats.

Following crypto’s conspicuous absence during the Democratic National Convention, those numbers dropped to 48%. A virtual rally to rally crypto-native support also yielded lackluster results, widening the gap between blockchain advocates and Harris’ potential administration.

Coinbase analysts have previously argued that young pro-crypto voters have the power to influence the election outcome.

Crypto in elections

Meanwhile, rumors abound in the media that RFK Jr. will join Trump’s campaign and possibly his team. Trump’s announcement of a mystery speaker at his Aug. 23 rally in Arizona has fueled speculation about that outcome.

Both Trump and RFK Jr. have touted pro-crypto ideas, promising to create a strategic Bitcoin (BTC) reserve if elected. RFK Jr. specifically suggested increasing America’s $12 billion BTC stockpile, giving the country 4% of Bitcoin’s 21 million supply.

With the outcome of the November election uncertain and the US presidential election about three months away, volatility has shaken national poll numbers and Polymarket odds, making it difficult to pick a clear winner.

For crypto, lobbying has surged through super PACS like Fairshake, with the industry spending more than $110 million to support crypto-friendly candidates and oppose anti-crypto policies.

Industry veterans emphasized that for Web3’s future to thrive, the blockchain community must remain neutral — chants supporting actions rather than wordy community discussions on platforms like X. Still, political leanings and industry agendas have ultimately created divisions across crypto, with advocates supporting either Trump or Harris.