The recent debate between Vice President Kamala Harris and former President Donald Trump on Sept. 10 left a noticeable mark on the election betting markets, as Trump’s odds of winning slid by 3% on Polymarket, a decentralized betting platform. Interestingly, neither candidate mentioned digital assets like crypto, but the debate wasn’t without its moments of tension.
During the heated exchange, Trump appeared visibly agitated at times, throwing out several statements that fact-checking agencies later called into question. Meanwhile, Harris stayed calm and repeatedly pushed back, focusing on topics such as the economy, abortion, and immigration. This head-to-head clash in Philadelphia brought them neck and neck in betting odds, with Trump now holding just a 49% chance of victory.
Pop superstar Taylor Swift even joined the conversation afterward, endorsing Harris to her 284 million Instagram followers. Her support of Harris as a “steady-handed” leader is expected to influence young voters and further shake up the race.
What Does This Mean for Crypto?
While crypto wasn’t directly addressed, the debate's outcome could have significant implications for the market. Analysts believe a Trump victory could boost Bitcoin to $90,000 by year’s end, as he’s made bold promises to remove anti-crypto regulations and position the U.S. as a leader in the crypto space. Harris, however, hasn’t shared her stance on crypto, leaving investors wary of her impact on the industry. Some predict that her election could see Bitcoin falling to $30,000, which could spell trouble for traders banking on a crypto-friendly administration.
With major crypto-backed political action committees pouring millions into the 2024 race, it’s clear that the stakes are high. For now, the candidates may not be talking about crypto, but their actions and the election outcome will likely have a lasting effect on the future of digital assets.
