Kamala Harris Win Odds Rise to 52%, Trump's Crypto Dream Weakening?
Former President Donald Trump trails Kamala Harris on Polymarket, but her chances of winning the 2024 U.S. presidential election have increased to 52%. Trump's crypto ambitions are at peril since markets are more confident in Harris' triumph.
Kamala Harris Leads Trump
Trump's chances dropped to 47% today, according Polymarket. Harris's chances have risen amid concerns of her financial policies, especially cryptocurrency. Even if she hasn't touched digital assets, her triumph might affect crypto. World Liberty Financial (WLFI) and Trump's Bitcoin reserve plan may fail.
Token sales under SEC Rule 506(c) of Regulation D are crucial to the WLFI initiative. Accredited investors may buy unregistered securities without regulatory barriers under this regulation.
Given the current regulatory climate under the Biden administration and SEC Chair Gary Gensler, this legal structure is risky. WLFI may be targeted by the SEC, which has actively attacked Ripple, Coinbase, and Binance.
Crypto-hostile environment
Kamala Harris's administration might maintain the SEC's strict regulations. Harris's support for the Democratic Party's anti-crypto position signals Trump's crypto initiative may struggle. Additionally, her crypto reset attempts failed.
WLFI may face more attention and regulation under Gary Gensler or a comparable SEC boss. Since the project sells unregistered securities, worries might rise.
Trump has proposed a Bitcoin strategic reserve if re-elected, while the Harris campaign has not guaranteed such an undertaking. On September 18, Democrats called the FIT21 and anti-SAB 121 measures âharmfulâ and MAGA-driven during the SEC political crypto bias hearing.
Democrats remain anti-crypto, as their recent pronouncements show. However, Ripple CLO Stuart Alderoty remains enthusiastic about crypto regardless of the election results. Trump may be exempt if Harris doesn't clamp down on other crypto businesses.
