Is the Party Over for Political Meme Coins?
Polymarket and political meme coins have had an incredible year as Kamala Harris and Donald Trump go head to head. But is all of this sustainable?
Political meme coins and prediction markets have had a defining role in this crypto bull market â driven by the dramatic U.S. election and Donald Trumpâs pro-Bitcoin policies.
Coins like TRUMP and MAGA have become vehicles for speculation, rising and falling based on the fortunes of candidates.
Most of the biggest PolitiFi tokens in terms of market cap are linked to the Republican nominee, with those named after Kamala Harris typically having much smaller valuations.
And investing in one certainly isnât for the faint of heart. âJeo Bodenâ hit an all-time high of $1.07 in April but has now plunged by 99.6% after the president abandoned his re-election campaign.
Novemberâs election has also been huge business for Polymarket, where users can place cryptocurrency bets on a wide range of issues.
A staggering $986.2 million has been wagered on whether Harris or Trump will pick up the keys to the Oval Office in about six weeksâ time, and the race remains on a knife edge.
