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Highlights
- Donald Trump has taken the lead in Polymarket ahead of the US elections.
- The former US President’s chances are at 50% while Kamala Harris's odds stand at 49%.
- Harris critics slam alleged 25% tax on unrealized profits.
Donald Trump has moved past Kamala Harris on Polymarket in a swift turn of events. The former United States President is now ahead with a 50% chance of winning the upcoming Presidential elections ahead of Kamala Harris’ 49%. Polymarket has seen its popularity surge ahead of the U.S. elections.
Donald Trump Takes Polymarket Lead
The Republican candidate took the lead in the prediction market over his opponent Kamala Harris. Recent polls place Trump at 50% while Harris at 49%, with a slight lead coming amid the Democratic National Convention. Previously, the United States Vice President took the lead and extended the same on Polymarket after Joe Biden withdrew from the race. This was due to momentum on Kamala Harris’s campaign which saw her chances soar to 52%.
As the campaign intensifies, slight swings are expected on both sides with crypto-related policies moving to the fore. On Aug 19, the Democratic National Committee (DNC) released its party ideals without the mention of cryptocurrencies. Crypto policy watchers say the party needs a clear-cut agenda for the market. As the market becomes mainstream in the coming polls, stakeholders look for pro-industry candidates with several support groups leaning toward the sector.
Previously several crypto and tech leaders have backed Trump although efforts from Crypto4Harris seek to slash the former President’s grip on the industry. Donald Trump’s dominance in the prediction market over Kamala Harris comes after day 1 of the DNC Convention.
Market Scrutinizes Tax Plans
Initial reactions after Donald Trump surged in the polls pointed to alleged claims that Kamala Harris would endorse a 25% unrealized gains tax. While this isn’t confirmed, critics took to X (formerly Twitter) to lambast such alleged policy directions. Cardano’s co-founder Charles Hoskinson wrote that a 25% tax on unrealized gains is the most unconstitutional theft proposed by a political party.
“25 percent tax on unrealized gains is the most insane, unconstitutional theft ever proposed by any political party. You didn’t make any money. You have no access to these “gains.” But somehow, a government official will just invent a profit and send you a tax bill. This is theft.”
Can’t believe polymarket is selling a full 25% tax on unrealized gains dollar at basically half off. https://t.co/oBYqQ5j3Jp
— toly 🇺🇸 | compressed (@aeyakovenko) August 20, 2024
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