Trump Surges Ahead of Harris with 17-Point Lead on Polymarket as Election Approaches

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Donald Trump currently holds a 17-point lead over Kamala Harris in the decentralized prediction market Polymarket, as of October 16, 2024. Trump commands 58.5% of the bets placed, while Harris has 41.3%. 

Both candidates have seen fluctuations in their support recently, but Trump’s position has strengthened in the days leading up to this update. In contrast, traditional national polls indicate a closer race, with Harris holding a slim two-point advantage.

The surge in support for Trump comes just weeks before the election. Meanwhile, Harris has launched a digital asset protection initiative aimed at Black male voters, responding to Trump’s efforts to engage this demographic. Her campaign promises to establish a fair regulatory framework for digital asset investors.

Trump has also introduced a cryptocurrency token tied to his new platform, World Liberty Financial. However, the launch faced criticism, with some labeling it a potential pump-and-dump scheme. The platform’s website experienced issues shortly after the launch, with only 9,000 token holders reported.

In 2019, Trump openly criticized cryptocurrencies, stating that he wasn’t a fan of Bitcoin or other digital currencies. Recently, however, Trump appears to have softened his stance, even proposing the idea of making the U.S. the “crypto capital of the world.” Trump’s main crypto-related proposals include:

Replacing SEC Chair Gary Gensler: Known for his strict stance on crypto regulation, Gensler has faced criticism within the crypto community. Trump has suggested he would replace Gensler with someone more crypto-friendly, possibly easing restrictions and encouraging innovation.

Creating a U.S. Bitcoin Reserve: Trump has floated the idea of requiring the Federal Reserve to hold Bitcoin as a reserve asset, similar to gold, to boost the country’s strategic assets.

Blocking a Central Bank Digital Currency (CBDC): Trump opposes the creation of a digital dollar by the Treasury, a move he sees as potentially undermining the decentralized nature of cryptocurrencies.