As the 2024 U.S. presidential election approaches, the Polymarket all-time leaderboard reveals an intriguing trend. Three out of the top five bettors are placing their stakes on Kamala Harris to win the election, while only one is backing Donald Trump in the popular vote. This development has sparked significant interest, especially given the unique context of the crypto space and its evolving relationship with political figures.
The data shows that users “JustKam,” “50-Pence,” and “Apsalar,” who occupy the 1st, 2nd, and 4th positions respectively in the all-time volume leaderboard, are betting on Harris to secure the presidency. These three traders collectively hold over $2 million in positions on Harris winning the election or the popular vote. This outweighs the wagers on Trump winning the popular vote from trader “bama124,” ranked 3rd on the leaderboard.
The focus on Harris by top traders is particularly notable considering her relatively quiet stance in the crypto space, which contrasts sharply with Trump’s vocal and evolving position. Trump, who initially dismissed Bitcoin as a “scam,” has recently embraced the digital asset world, even launching multiple NFT collections and positioning himself as a pro-crypto candidate. Despite his controversial history with cryptocurrency, Trump has attracted substantial financial backing from key industry figures, further fueling speculation on his electoral prospects.
On the other hand, Harris’s bets appear to be driven more by traditional political calculations rather than her stance on digital assets. Her supporters on Polymarket seem to be banking on broader electoral trends rather than her position on crypto, showcasing a complex interplay between political dynamics and market speculation.
Polymarket, a platform where users can wager on the outcomes of various events, including political elections, has witnessed significant trading volumes in the run-up to the 2024 U.S. presidential election. The top traders on the platform have collectively handled tens of millions of dollars, with the highest volume trader, “undertaker,” having moved nearly $49 million in August alone.
As these traders continue to influence the prediction markets, their activities will likely be a point of discussion at Benzinga’s Future of Digital Assets event on Nov. 19. This event promises to delve deeper into the connection between crypto markets and the political landscape, particularly in light of the upcoming election.
