Donald Trump’s odds of becoming the next US President have increased by three percentage points, according to blockchain-based prediction platform Polymarket.
The catalyst for the surge in the betting market was Trump’s campaign rally in Butler, Pennsylvania, as he returned to the scene where an attempt was made on his life in July.
He was joined on stage by his close ally, Elon Musk, whose impassioned contribution to “the most important election of our lifetime” appears to have resonated with the target audience.
In a similar overture to woo votes, Trump renewed his pledge to “save” Ross Ulbricht, last week.
After the rally, Polymarket listed Trump with a 51% chance of securing a return to the White House, with Harris on 48%, as the Democrats seek to secure a consecutive term in office.
At the time of writing on Monday, the positions remain largely unchanged at 51.0% and 48.1%, respectively.
BREAKING: Donald Trump now leads Kamala Harris by 6% in Pennsylvania in betting markets, just a day after Elon Musk attended his rally in Butler. pic.twitter.com/n7xEqFwbf0
— DogeDesigner (@cb_doge) October 7, 2024
Musk’s high-profile contribution at the weekend was always going to capture attention and headlines, given his persona and reputation. The richest man in the world has been an outspoken supporter of Trump’s presidential campaign, nailing his colors to the mast in the immediate aftermath of the gun attack on the 45th POTUS in Butler.
The X and Tesla mogul made typically bold claims during his energetic appearance, as he urged the crowd to “Fight, Fight, Fight!”, echoing Trump’s last salvo in July as he was led off the stage by security officials with blood-dripping down his face.
“President Trump must win to preserve the Constitution. He must win to preserve democracy in America,” stated Musk.
He also denounced the Democrats and Harris, claiming they represent a threat to free speech and constitutional rights, including the right to bear arms.
In recent weeks, Polymarket has embarked on a fresh funding round, aiming to raise an extra $50 million in new capital amongst expected plans of a new token launch.
Earlier this year, the company raised $70 million in two investment rounds, split between $25 million in a Series A led by General Catalyst and another $45 million in Series B led by Ethereum co-founder Vitalik Buterin.
The platform continues to thrive from its market offering on the presidential election and is likely to do so through to the outcome of the contest in November.
Featured image: Ideogram
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