Bets on prediction markets show Trump with a wider lead than Harris, as he sets a new high on the crypto-based polymarket
Against Vice President Kamala Harris, Republican presidential candidate Donald Trump established a new record in presidential betting odds on Polymarket.
What occurred was that the former president's odds of reclaiming power increased from 49% last week to over 55% according to bettors on the so-called decentralized prediction market.
Since he was in the majority a week ago, Harris' chances have gradually dropped to 44%.
When Joe Biden, the incumbent, was running for president, wagers in his favor topped 70%. There was a marked change in opinion, however, once Biden dropped out of the campaign and Harris became the Democratic presidential frontrunner.
Not only did the fight heat up in August, but Harris even had a nine-point lead at one point.
The result has been staked a staggering $1.7 billion, making it the most betted event on Polymarket.
Kalshi is a prediction tool that is not only legal in the US, unlike Polymarket, but Trump's chances were 52% to Harris' 48%.
This about-face came after Elon Musk, CEO of Tesla, made an impassioned plea to support Trump at a rally last week in Butler, Pennsylvania.
