#ChartoftheDay The #USelection is turning a white-hot competition. With Elon Musk’s relentless support, Former President #Trump overtook Vice President #Harris for the first time in the Decision Desk HQ/The Hill election forecast.

Meanwhile, on the decentralized prediction market #Polymarket , which has seen over $2.2 billion in betting volume on who will win the 2024 US presidential election, Trump’s rose substantially to 63.7%, whereas Harris' stood at 36.1%.

The outcome of the U.S. presidential election will impact the global economy and the crypto industry. Although both candidates have promised pro-crypto policies to some extent, whether these campaign promises will become a reality or turn out to be just lip service is highly uncertain.

Based on the two parties' styles, it is generally believed that Harris will adopt a more cautious attitude towards the #crypto industry. Eric Balchunas, senior ETF analyst at Bloomberg Intelligence, noted that crypto ETFs tracking smaller coins like Ripple’s XRP or Solana (SOL) are unlikely to be approved under a Harris presidency.

On the other hand, to win the support of the crypto industry, the Trump family has launched a crypto project called World Liberty Financial (WLF) and kicked off its public token sale last week. However, the market reacted poorly to the protocol’s ambitious $300 million fundraising target at a valuation of $1.5 billion, with it raising approximately 3.8% on its first day. Additionally, according to the project’s document, Trump and his family could take home 75% of net revenue while assuming no liability. This makes many people suspicious of whether his support for crypto is genuine.