The bets on the market prediction platform Polymarket for the 47th U.S. president are quickly rising ahead of the elections. Republican candidate Donald Trump is leading with a huge gap.
According to data provided by Polymarket, the total amount of bets on the next U.S. president has surpassed the $2 billion mark. Trump is currently leading with $600 million, followed by the Democratic runner Kamala Harris with $402 million.
Bets on the 2024 U.S. elections winner â Oct. 17 | Source: Polymarket
Data from the market prediction platform shows that the odds are in Trumpâs favor, leading with a 59.9% chance of winning the U.S. presidential electionsâHarrisâ winning probability is sitting at 40%.
This 19.9% gap was last seen in mid-July.
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Per a crypto.news report, the increased odds of the Republican candidate becoming the next U.S. president have brought bullish momentum to Trump-themed meme coins. MAGA Hat (MAGA), Super Trump and Doland Tremp (TREMP) recorded impressive double-digit gains.
One of the key reasons behind Trumpâs increasing chance is the involvement of Elon Musk, the billionaire CEO of Tesla.
According to an X post by Mario Nawfal, Musk will likely deliver six speeches, supporting Trump, in Pennsylvania, also known as âThe Keystone State.â
ELON IS IN PENNSYLVANIA â SIGN UP TO ATTEND@elonmusk has 3 talks scheduled in Pennsylvania this week, but will likely do around six across the state.No attendance fee!Just sign the petition for free speech, the right to bear arms, and confirm that you're a registered voter⊠pic.twitter.com/CJ7nzSjvVo
â Mario Nawfal (@MarioNawfal) October 17, 2024
Nate Silver, a political statistician, believes that Pennsylvania is the most important state for the upcoming elections.Â
Now that we have a bit more state polling of the Harris-Trump matchup ⊠Pennsylvania back to being by far the most important state. pic.twitter.com/brj8YJlgD3
â Nate Silver (@NateSilver538) August 2, 2024
Previously, Muskâs involvement in a Trump campaign in Butler, Pennsylvania increased the odds of the republican candidate to 50.8%.
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