Donald Trump’s chances of winning the upcoming U.S. presidential election have seen a significant increase after a failed assassination attempt, based on data from the decentralized prediction market platform Polymarket. Following the incident at a rally in Pennsylvania where Trump was injured, his odds of winning the election shot up by around 10 points to 70% on Polymarket.
The Secret Service confirmed Trump’s safety after the shooting incident, which resulted in the death of a suspected assailant and a bystander. Despite the violent altercation, defiant images and videos of Trump with a bloodied face circulated on social media, showing him making a fist-pump gesture. This event occurred against a backdrop of heightened public attention on the perceived weaknesses of his opponent, President Joe Biden.
In the aftermath of the assassination attempt, meme tokens associated with Trump, such as “PoliFi” tokens, experienced a surge in value. For instance, MAGA token rose by 47% to $9.32, while TREMP token increased by 22% to $0.4866 within 24 hours, as reported by crypto.news. On the contrary, BODEN, a meme coin inspired by President Biden, saw a 21% decline to $0.03181 during the same period. These tokens, although popular for betting on election outcomes, do not offer any actual rewards to holders if their linked candidate emerges victorious.
Currently, President Biden’s odds of winning the election on Polymarket are at 16%. In contrast, Trump, who has expressed support for Bitcoin and other cryptocurrencies, is set to speak at a Bitcoin conference later this month. In a recent statement in Washington, D.C., Trump emphasized his commitment to ensuring that the future of Bitcoin is developed within the U.S. borders and not abroad, pledging to uphold the right to self-custody of digital assets.
Having delved into the realm of cryptocurrencies through the sale of digital trading card non-fungible tokens (NFTs), Trump has embraced digital currencies and started accepting campaign donations in various cryptocurrencies like Bitcoin, Ethereum, Solana, and Dogecoin. Following the close call at his Pennsylvania rally, where a bullet narrowly missed him, the price of Bitcoin surged above $60,000 per unit, rebounding from earlier lows of $53,000 this month. As of the latest data, Bitcoin was trading at $59,970.
Trump’s resilience in the face of adversity, combined with his growing involvement in the cryptocurrency space, has undoubtedly influenced his rising odds in the upcoming presidential election. The aftermath of the assassination attempt has not only boosted his support among bettors on Polymarket but also catalyzed a newfound interest in Trump-related meme tokens within the crypto community. The convergence of political events and financial markets underscores the dynamic nature of the upcoming election and its implications for the broader cryptocurrency landscape.