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With the US presidential election approaching, Trump's commitment to cryptocurrency has distinguished him from the Democratic candidates and put him at the forefront of prediction markets.
Trump has publicly supported the digital asset industry, promising to allow the United States to do business in the field and commute the sentence of Silk Road founder Ross Ulbricht. This supportive stance on cryptocurrency has been welcomed by the community and stands in stark contrast to the more conservative approach of the current administration. Prediction markets such as Polymarket and PredictIt reflect the positive shift in Trump's favor. Over the past week, Trump's odds on Polymarket have risen by two percentage points to 56%, while Joe Biden's odds have fallen to 37%. Similarly, PredictIt shows a slight decline in Biden's shares, which, based on current trading prices, means that Biden has a 44% chance of re-election. The impact of Trump's friendly policies on cryptocurrency is also reflected in market activity. One notable example is a trader who made a lot of money from Trump-themed cryptocurrencies, highlighting how political support can affect market dynamics.
During this period, TRON founder Justin Sun strongly called on the cryptocurrency community to support leaders who value and protect their interests, emphasizing the key role they play as stakeholders in the digital field.
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