Trump's Election Odds Surge on Polymarket as Musk Backs Campaign

Former President Donald Trump's odds of winning the 2024 election have increased significantly on Polymarket, fueled by high-profile support from Elon Musk.

• Donald Trump's odds of winning the presidential election on Polymarket have risen to over 53%, surpassing Kamala Harris.
• Elon Musk's support for Trump, including appearances at rallies, is linked to the recent increase in Trump's betting odds.
• Speculation surrounds a major bettor known as 'Fredi9999,' who has heavily invested in Trump shares on Polymarket, raising questions about market manipulation.
• Despite the surge in Trump's odds on Polymarket, other betting platforms like PredictIt and Kalshi show less drastic changes, with Harris still favored.
• Analysts note that the shift in odds may be driven more by speculative trading and emotional sentiment rather than concrete changes in the election landscape.

3 Articles

Decrypt Forbes ReadWrite