Crypto Prediction Markets Flip To Favor Trump Over Biden, Bitcoin Rallies
As the race between the two main opponents in the US presidential elections inches towards the end, crypto prediction markets flipped to favor the still-President Donald Trump over the potential-President Joe Biden.
Now, according to these markets, there is a 75% (36% several hours ago) chance that Trump will win this race, compared with 26% (62% several hours ago) in the case of Biden.
The Trump 2020 futures contract on crypto derivatives exchange FTX jumped to USD 0.75, while the Biden 2020 contract crashed to USD 0.26 (03:24 UTC).
Also, looking at ‘YES Trump’ and ‘NO Trump’ tokens issued by Augur, we see that the YES one went up, while the NO one dropped.
At the time of writing, Biden secured 209 electoral votes out of necessary 270, while Trump has 118, according to Bloomberg data. While Reuters and some other sources claim that Biden has 192 votes, Trump – 114. In either case, results are still coming in and Biden hopes for an early win are being erased.
Meanwhile, bitcoin (BTC) is up by 3.6% in a day, trading at USD 13,858. The price once again briefly hit USD 14,000 several hours ago. Other major coins from the top 10 club are up by 1%-6%.