Vice President Kamala Harris’ chances of becoming the Democratic nominee for president this year have significantly increased, as reported by traders on the Polymarket prediction market platform. The optimistic shares for a contract predicting her nomination soared to 31 cents, reflecting a 31% probability, up from 7% earlier in the day. While the shares slightly dropped to 23 cents later on, the market sentiment remains positive.
Despite President Joe Biden being the current presumptive nominee, there is a growing call among supporters for him to step aside and for Harris to step up, especially after her strong performance in the recent debate with Donald J. Trump. Representative James Clyburn emphasized the importance of supporting Harris in her bid for the nomination, regardless of her current position in the polls.
Various voices in the political arena, such as former Congressman Tim Ryan and The Wall Street Journal, have expressed views favoring Harris as a potential replacement for Biden. This sentiment is also reflected in the PredictIt prediction market platform, where shares for Harris more than doubled to 35 cents, indicating a significant level of confidence in her candidacy.
Polymarket, despite regulatory restrictions in the U.S., has seen a surge in trading volume, with June marking the first month where the platform witnessed over $100 million in trading. The platform’s largest contract, with $211 million in bets, focuses on predicting the U.S. presidency outcome, with Trump currently leading with a 66% chance of victory.
Additionally, a meme coin named KAMA, inspired by the vice president, experienced a substantial price increase, more than doubling in value over 24 hours. The cryptocurrency market seems to be closely following and reacting to developments related to Harris’ political journey.
the momentum behind Harris’s campaign is gaining traction, with both traditional and crypto-based prediction markets reflecting a growing confidence in her chances of securing the Democratic nomination. This shift in sentiment underscores the evolving dynamics of the 2020 presidential race and the potential for a significant change in the political landscape.
