The Polymarket odds of Conservative and anti-CBDC candidate Pierre Poilievre becoming Canada’s next Prime Minister surged to 92% following Justin Trudeau’s resignation.
After nine years in power, Canadian Prime Minister Justin Trudeau formally resigned amid mounting scrutiny of his cabinet and the Liberal Party of Canada, according to CNN.
The news confirmed a scoop from local media house The Toronto Star, cited in a previous crypto.news report on Monday. Jan. 6.
Following the resignation, Polymarket users rallied behind Conservative leader Pierre Poilievre in a betting contract titled “Next Prime Minister of Canada.”
The Polymarket contract, which has seen over $260,800 in trading volume, assigned the highest probability to Poilievre. According to Polymarket data, there is now a 92% chance that he will be elected as Canada’s next Prime Minister on or before October 2025.
Justin Trudeau just resigned.There's a 92% chance Conservative Pierre Poilievre will be the next Prime Minister of Canada. pic.twitter.com/DNinDL8n0h
— Polymarket (@Polymarket) January 6, 2025
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Anti-CBDC Poilievre popular on Polymarket
Canada’s leading PM candidate, per Polymarket, has positioned himself as an adversary to some of Trudeau’s policies. In August, the Conservative aspirant pushed against creating a central bank digital currency.
A CBDC acts as a digital version of sovereign currency — state-issued and government-controlled, but utilizing blockchain technology.
Poilievre has advocated for preserving the use of cash, pledging to protect Canadians’ freedom and privacy. His stance gained attention in September when the Bank of Canada slowed its CBDC plans. The pro-Bitcoin (BTC) political has also shared crypto-friendly views, attracting criticism from rivals and peers for touting Canada as a global blockchain capital in 2022.
Read more: Canada’s central bank steps back from digital currency exploration: report