The odds of former U.S. President Donald Trump winning the next presidential election have spiked to a historic peak following a failed assassination attempt, as reported by bettors on the decentralized prediction market platform Polymarket. Trump, injured during a shooting at a rally in Pennsylvania, saw his chances of winning the election jump by around 10 points to 70% on Polymarket, where users can wager cryptocurrency on diverse events.
A spokesperson from the Secret Service confirmed the safety of the Republican presidential candidate following the incident, reported by The New York Times. The altercation led to the death of a suspected assailant and a bystander, according to the publication.
In the aftermath, defiant images and videos of Trump, with a bloodstained face, making a fist-pump gesture went viral on social media. This event unfolded amid ongoing public scrutiny over perceived weaknesses and missteps of his rival, current President Joe Biden.
Following the incident, meme tokens linked to Trump, known as “PoliFi” tokens, saw a surge in value. For example, MAGA rose by 47% in 24 hours to $9.32, while TREMP increased by 22% to $0.4866, based on data from crypto.news.
Conversely, BODEN, a meme coin inspired by President Joe Biden, experienced a 21% decline over the same period to $0.03181. These tokens, popular for speculating on election outcomes, do not provide actual payouts to holders if their associated candidate wins.
Currently, Biden’s odds of winning the election on Polymarket stand at 16%.
Trump, who has pledged to support Bitcoin if he wins the 2024 presidential election on Nov. 5, is confirmed as a featured speaker at an upcoming Bitcoin conference later this month.
In a statement made last month in Washington, D.C., Trump emphasized, “I will ensure that the future of Bitcoin is shaped in the U.S. and not outsourced overseas. I will defend the right to self-custody.”
The Biden administration has consistently avoided interfering with law-abiding crypto holders.
Having earned income from his digital trading card non-fungible tokens (NFTs), Trump has deepened his involvement in cryptocurrencies and publicly endorsed the sector in late May.
He also began accepting campaign contributions in various digital currencies, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Dogecoin (DOGE).
Following Trump’s narrow escape at his Pennsylvania rally, where a bullet grazed his ear, Bitcoin’s price has surged above $60,000 per unit, rebounding from earlier lows of $53,000 earlier this month. As of this report, the leading cryptocurrency was trading at $59,970.
