Donald Trump overtook Kamala Harris on Polymarket after Robert F. Kennedy Jr. dropped out of the U.S. presidential race.

Polymarket bettors have wagered $87 million on a 51% chance that Republican candidate Donald Trump will be elected America’s 48th president after the pro-Bitcoin independent candidate exited the ballot.

Democratic pick Kamala Harris surge ahead of Trump on the decentralized prediction marketplace has come to an end — at least for now. On-chain speculators briefly backed Harris to win in November as whispers of a crypto reset for Dems circulated.

Those odds have slipped to 48% after crypto was noticeably absent during the Democratic National Convention.  A virtual town hall meant to rally crypto-native support also yielded lackluster results, widening the gap between blockchain proponents and Harris’ potential administration.

Analysts at Coinbase previously argued that pro-crypto young voters have the power to influence the outcome of the election.

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Crypto in the elections

Meanwhile, rumors of RFK Jr joining Trump’s campaign, and possibly his staff, abound in the media. Trump announcing a mystery speaker at his Arizona rally slated for Aug. 23 spurred speculation about this outcome.

Both Trump and RFK Jr have tabled pro-crypto ideas, pledging to create a strategic Bitcoin (BTC) reserve if elected. RFK Jr particularly proposed increasing America’s $12 billion BTC stockpile, till the country owned 4% of Bitcoin’s 21 million supply.

🚨 RFK JR OFFICIALLY DROPS OUT. What happens next? pic.twitter.com/3ZoCgrekmq

— Danish (@operationdanish) August 23, 2024

The outcome of November’s election remains uncertain, with nearly three months until the U.S. presidential elections. Volatility rocked national poll numbers and Polymarket odds, making picking a clear winner difficult.

For crypto, lobbying through super PACS like Fairshake advanced. The industry has spent over $110 million backing crypto-friendly candidates and opposing anti-crypto policies. 

Industry veterans stressed that the blockchain community must remain nonpartisan if Web3’s future is to flourish. Chants to support actions over words-filled community discussions on platforms like X. Still, political leanings and industry agendas have ultimately created divides across crypto as proponents threw weight behind Trump or Harris.

Read more: Donald Trump announces pro-crypto transition team