Bettors on Polymarket have increased their odds on Joe Biden dropping out of the US presidential race before November amid concerns about his age.

Gamblers on decentralized blockchain website Polymarket have increased the odds of President Joe Biden dropping out of the race ahead of the November U.S. presidential election.

After last week’s first presidential debate with former President Donald Trump, analysts now estimate the chances of Biden withdrawing the nomination at 46%, up from 19% on Thursday.

Some have criticised the 81-year-old for not being able to run for re-election due to his age.

Trump’s poor performance in the first debate hosted by CNN on Thursday did little to ease concerns.

At times, Biden seemed to struggle with words, slurred his speech and even made strange movements as he argued over who was the better golfer.

In contrast, Trump appeared calm, reiterating his usual views, including on immigration and foreign policy, while also criticizing Biden's missteps.

“I don’t really know what he said at the end,” Trump said of Biden’s immigration policy. “I don’t think he knows what he said either.”

After the debate, CBS News and YouGov polls conducted on Friday and Saturday showed that only 28% of registered voters support Biden's candidacy, while 72% oppose his presidential run.

Leading Democratic figures and major donors unanimously endorsed President Biden as the party's nominee on Sunday to counter calls for him to withdraw, The Wall Street Journal reported.

President Biden, who is three and a half years older than Trump, spent the day at Camp David on Sunday with first lady Jill Biden and their family.

The Wall Street Journal reported that in informal discussions, his family urged him to continue his re-election campaign, presenting a united front and strong consensus for him to continue his campaign.

Cryptocurrency as an election issue

Last week, Polymarket traders predicted a 61% chance that Trump would bring up Bitcoin or cryptocurrencies during Thursday’s debate.

While topics such as abortion rights, foreign policy, health care, the environment and adherence to the democratic process in various states took center stage, there was no mention of cryptocurrency.

Cryptocurrency has become an election issue after the former president endorsed it at an event for Trump-themed NFT holders at Mar-a-Lago last month. Trump has since accepted cryptocurrency donations and called for an increase in Bitcoin production in the U.S.

In contrast, Biden’s appointee to chair the SEC, Gary Gensler, has been heavily criticized for what the cryptocurrency industry sees as his harmful approach to regulation through litigation.

“Trump’s acceptance and embrace of cryptocurrencies stands in stark contrast to the Biden administration’s overwhelmingly regressive approach to cryptocurrencies.

“Many U.S. supporters see cryptocurrency as a key issue for them.

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