According to The Block, Harris and Trump each currently have a 49% chance of winning in Polymarket’s $860 million prediction market. According to polls, Harris has a 94% chance of winning the debate.

Bitcoin briefly topped $58,000 before the debate, but fell to a low of $56,700 during the televised debate.

U.S. Vice President Kamala Harris’ odds of winning in the upcoming November election have risen on crypto prediction platform Polymarket following Tuesday night’s presidential debate. Harris and former President Donald Trump are now tied in Polymarket’s $860 million market.

On Tuesday night, Harris and Trump held their first and likely last presidential debate before the upcoming election, discussing several recurring topics such as the Gaza war and abortion rights, but not cryptocurrencies. Bettors on Polymarket gave Harris a 94% chance of winning the debate, according to undisclosed polls.

Harris' chances of winning the presidential election rose to 49% from 46% on Monday night, while Trump's chances of winning fell to 49% from 52%. Trump has been quite outspoken in expressing his views in favor of cryptocurrency, while Harris has begun to engage with the crypto industry, although she has not yet taken a clear stance on the industry.

Min Jung, an analyst at Presto Research, told Blockchain that even though the debate did not specifically mention cryptocurrencies, Harris’ odds of support are rising on Polymarket, “which may not be very positive for the crypto market.”

Bitcoin briefly topped $58,000 before the debate and hovered at higher levels, but fell to a low of around $56,700 during the debate. According to Blockchain’s Bitcoin price page, it is currently trading at $56,797.

Justin d'Anethan, head of Asia-Pacific business development at crypto market maker Keyrock, said Bitcoin was more of a "cool observer" while the debate was going on. "The crypto market is watching, but not reacting - at least not yet," he said. "Bitcoin continues to behave like other risk assets, moving alongside tech and growth stocks as it searches for direction amid a mix of inflation fears, interest rate uncertainty and global political turmoil."

“The debate itself was undoubtedly an important moment, setting the tone for a possible fight between two divergent visions of America’s future,” d’Anethan added. “For Bitcoin, however, it needs something more concrete. Right now, Bitcoin appears to be waiting for a catalyst — either from an unexpected change in macroeconomics, such as a change in Fed policy, or from a major event in the political sphere, such as a scandal or an unexpected shift in election polls.”

PolitiFi Tokens FallThe Trump-Harris-inspired PolitiFi token fell in the past hour.Super Trump (ticker: STRUMP), with a market cap of $13.8 million, fell 6.8% in the past hour, while Kamala Horris (KAMA) fell 5.7%, and MAGA (TRUMP) fell slightly by 0.2%, according to Coingecko data.

“The market reacted quickly to Harris appearing to outperform expectations in the debate,” said Peter Chung, director of research at Presto. “This was evident from the timing of the large moves in the PolitiFi token, all of which began after 9pm ET, which is when the debate began.”

Keyrock’s d’Anethan said the PolitiFi token could see some volatility as the debate continues and partisan fervor builds on Twitter. “Speculators may take advantage of any perceived sentiment shift in the short term, but these swings are likely to be short-lived due to low liquidity and waning attention.”