How Trump’s Win Impacted Predictors on Polymarket?

• Donald Trump has secured victory in the 2024 U.S. presidential election.
• Bitcoin surged over 10%, hitting a new all-time high.

The Republican candidate, Donald Trump won the 2024 US presidential election race with 248 electoral votes, beating the Democratic candidate, Kamala Harris. 

The Trump victory has justified the Polymarket prediction. Over the past 24 hours, the prediction platform revealed the probability of Trump’s victory with 95%, and Kamala Harris trailing at 3.3%. This shift highlights strong market sentiment in favor of Trump. Looking back, both candidates have been racing on the prediction market platform.  

Someone Profits While Others Take a Loss

Notably, the three prominent bettors made significant profits as Trump won the presidency. Players like Theo4 earning $20.4M, Fredi9999 gaining $15.6M, and zxgngl securing $11M. These profits highlight the rewards of strategic investments during key market movements. 

Meanwhile, the individual who placed a $5 million USDC bet on Kamala Harris facing heavy losses, with a current loss of approximately $4.9 million, a 97.7% drop in value.

Moreover, the preliminary counts indicate that Trump has garnered 95 electoral votes, while Harris has 35. The US election’s Electoral College system mandates that a candidate must secure more than 270 electoral votes to win the presidential race.

The anticipation hovered around the Trump victory has generated confidence in financial markets as his economic policies will bolster the U.S. dollar. Meanwhile, the U.S. Dollar Index rose by 0.8% to 104.27. 

Furthermore, as the market speculated, Bitcoin’s price soared by over 10% and the largest crypto asset hit its all-time high (ATH), reaching the $75,000 mark for the first time, amid the elation of Trump’s victory in the US election. The daily trading volume of BTC has risen by over 114% to $89.37 billion.

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Bitcoin and Dogecoin Flex Big Moves to the 2024 US Election Results

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