KEY POINTS
- RFK Jr. pulled out of the race and endorsed Trump on Friday
- Trump and Harris are tied in the event contract, where traders bet on who wins in November
- Trump has a significant lead over Harris in Georgia, while the VP leads Trump by a wide margin in Michigan
- Some crypto users believe RFK Jr.'s move is beneficial for the crypto industry
Republican presidential candidate Donald Trump's chances of winning against Vice President Kamala Harris on Polymarket have climbed significantly in three battleground states after he received an endorsement from independent candidate Robert F. Kennedy Jr.
RFK Jr. throws support for Trump
Bitcoin advocate RFK Jr. suspended ended his presidency bid Friday and soon after endorsed Trump. He revealed that he went through "deep prayer" and also held two meetings with Trump before he made the decision.
He went on to accuse the media of colluding with Vice President Harris, the Democratic Party's presidential nominee. RFK Jr. revealed that his name will remain on many states' ballots, but he will pull out of swing state elections.
It remains to be seen how RFK Jr.'s endorsement of Trump will actually affect polls, but on Polymarket, where users can buy and sell cryptocurrencies to bet on the probability of future events, it appears the tides are changing.
Trump leads Harris after RFK Jr.'s speech
Shortly after Kennedy Jr. announced he is pulling out from the race, Trump's odd of winning the presidency, at least on Polymarket, climbed to 3%.
Trump's lead in the odds is back up to 3% following RFK Jr's speech. pic.twitter.com/c1CCIctd7m
— Polymarket (@Polymarket) August 23, 2024
However, things have changed since, with Harris reclaiming the losses and tying the GOP frontrunner as their campaigns heat up as of early Monday.
Trump takes 3 battleground states
While Trump and Harris are tied on the event contract for the 2024 presidential winner, the broader elections figures on Polymarket reveal that Trump is leading Harris in three swing states.
Trump is 61% in Georgia, compared to Harris' 39%. Polymarket traders have him 9 percentage points ahead of Harris in Arizona, and he is leading Harris in Nevada at 53% to 47%. The vice president leads the business mogul in Wisconsin by double digits, and she is also far ahead from Trump in Michigan at 61% to 39%. Meanwhile, in Pennsylvania, the rivals are tied at 50%.
Crypto users welcome Kennedy's pivot
Many crypto users on X welcomed RFK Jr.'s move of suspending his presidential bid and joining hands with Trump. Some believe the move will be good for the crypto industry, considering how Kennedy Jr. is a known Bitcoin advocate, while Trump has expressed support for the sector in recent months.
Trump and RFK Jr are going to make so many blue tears over the next 2 months! $PTRUMP pic.twitter.com/GigBtXJwnE
— Ryan (@RyanFFCrypto) August 26, 2024
One user said he respects and admires RFK Jr. for his decision, adding that he believes the former Democrat will play a major role in the second Trump administration if the latter wins.
Responding to a question by pro-Trump therapist Dawn Michael about whether Trump should replace J.D. Vance with RFK Jr., @C4Cryptos recommended that the nephew of former President John F. Kennedy should be given a role on a "crypto team" and should lead a team in charge of "dismantling all the three letter agencies."
Quite interestingly, among the three-letter agencies are the U.S. Securities and Exchange Commission (SEC), which many in the crypto industry view as a hostile regulator.
