This year’s Halloween will instantly be followed by the much-hyped US Elections 2024 and the prospects are already haunting both Donald Trump and Kamala Harris. Who will win the White House in 2024? Everybody has an opinion to share and a choice to make on November 5, 2024, when Americans will come out in scores to cast their ballot.
Before the big day, people got another chance to exhibit their support to either the Republican or the Democrat candidate. Polymarket is the platform which allows everyone to cast their vote in favour of any of the two US presidential candidates. After a seesaw of the past few months, Polymarket shows Donald Trump as the one with the clear majority over Kamala Harris. According to the latest projections, Donald Trump enjoys 66% backing on the website, whereas Kamala Harirs is nowhere near, with only 33.8% bets.
Although Polymarket isn’t the absolute platform to decide the outcome of the US Elections 2024, it’s quite clear how people associated with cryptocurrencies think about the presidential candidates this year. As a matter of fact, the crypto industry has emerged as an unexpectedly influential player in the US Elections in 2024.
Rising Influence of Crypto Industry on US Politics
The two presidential candidates were quite vocal during their respective campaigns regarding the crypto phenomenon. While Donald Trump exhibited unequivocal support for Bitcoin and other crypto projects, Kamala Harris took a different line of action, not clearly coming out in support of digital assets.
Crypto enthusiasts played a central role in this year’s US elections, which is quite evident by the massive number of donations made from the crypto industry. A majority of these enthusiasts have pinned their hopes on Donald Trump’s victory to get a green light from the US government regarding digital assets. They believe cryptos will have a bright future if a pro-crypto president occupies the White House. This is exactly what the betting poll on Polymarket shows. People have shown their clear support for Donald Trump (66%), who has been talking positively about cryptocurrencies during his presidential campaign.
Political Donations from Crypto Enthusiasts On the Rise
The crypto community has made its presence felt in the US Elections 2024 as political donations from the American crypto community have exceeded $190 million, which is a 13x increase from the 2020 cycle. As mentioned above, Donald Trump and Kamala Harris have taken different roads in creating policies regarding digital assets, and it has clearly made things easier for pro-crypto voters.
It’s not just about the US, crypto projects are winning hearts and minds across the globe. The rise of blockchain technology has further upped the ante, and now political leaders are taking note of the changing dynamics of public opinion. Especially with reference to the US Elections 2024, the crypto community has played a much broader role this year than ever in the past. According to the data compiled by the Federal Election Commission (FEC), crypto companies contributed more than $130 million to congressional races in 2024 alone. You don’t need guesswork to know where these funds would have gone. Organizations like Fairshake Political Action Committee have played a leading role in reshaping the dynamics and narratives of US elections.
Donald Trump’s Journey from Naysayer to Crypto Yeasayer
Once known for his anti-crypto stance, Donald Trump had a change of heart and mind this year as he openly came out to support digital assets during his presidential campaign. From avoiding bullets to purchasing a burger using Bitcoin, Trump showed the world how cryptos can change the world.
Donald Trump once called Bitcoin a scam but now he is all vocal about the potential of cryptocurrencies, with a special focus on Bitcoin. During his campaign, Trump went to the extent of proposing Bitcoin as a store of value for the US government and that the US should become a Bitcoin superpower.
In fact, Donald Trump isn’t the only Republican politician to back digital assets. Many other top Republican politicians have openly supported cryptocurrencies in the past few years, especially after Trump’s ouster from the Presidency. Many other lawmakers have also termed digital assets as tools for financial freedom. Donald Trump also took the lead to launch the first-ever crypto-supported presidential campaign in 2024. Americans can contribute to Trump’s campaign in Bitcoin and altcoins, a move which is set to completely reshape the dynamics of the US Elections in the years to come.
Kamala Harris’s Cautious Approach Towards Crypto
While Donald Trump is all supportive of digital assets, Kamala Harris has a conservative approach to the crypto and blockchain projects. Current US Vice President Kamala Harris is clearly in favour of regulating cryptocurrencies and keeping them away from a decentralized approach. In fact, the Biden-Harris administration rolled out several measures to keep a check on the crypto market, with the US Securities and Exchange Commission getting more government support to target crypto projects.
Despite a hard line towards cryptocurrencies, Kamala Harris also showed a soft side during her presidential campaign. She acknowledged the transformative potential of blockchain technologies but refrained from openly supporting the digital assets. However, she did push for more research into blockchain’s applications in areas like voting systems, supply chain management, and healthcare.
The Final Thoughts: Will Crypto Community Have the Last Laugh in the US Election 2024?
As Donald Trump and Kamala Harris have clearly painted their minds during the US presidential campaigns, the American voters also seem to have made up their minds about who they are going to vote for on November 5, 2024. The latest data from Polymarket clearly indicates that Trump’s pro-crypto stance has earned him massive support among the crypto enthusiasts. With a clear 66% support on Polymarket betting platform, Trump looks all set to enter the White House for a second term.
That’s not the end of the story by any stretch of the imagination. With a focus on regulation, Kamala Harris has also struck the right cord with the American public. While the Polymarket result could be deceiving, Kamala Harris has enjoyed massive rallies and public support. It would be interesting to see who American voters elect on November 5, but it all gets interesting just a few days before the big vote day. Will the US crypto community have the last laugh, Nov 5 has the answer.
