KEY POINTS
- One user said Polymarket traders just needed to hear Harris' policies to change their minds about her lead
- An activist said Harris stole two of Trump's policies but added "communism on the side"
- Both Harris and Trump have said they want to lower goods prices and end tip taxes
Economic policies have taken the spotlight in recent rallies where Vice President Kamala Harris and ex-president Donald Trump tried to woo American voters, and it appears traders on Polymarket are pushing the business mogul's chances up as comparisons between the candidates' policies emerge.
Data from decentralized prediction market platform Polymarket shows that at one point on Sunday night, Trump tied Harris at 49% after the Democratic presidential nominee took the lead from the GOP candidate for over a week.
Trump just tied it up. pic.twitter.com/2BgwAtYIif
— Polymarket (@Polymarket) August 18, 2024
Polymarket allows users to buy and sell shares using cryptocurrencies to bet on the likelihood of future events, including in politics, sports, and various other sectors.
What could have triggered the numbers change?
Crypto users on X have had mixed reactions about why Trump was able to catch up after Harris triumphantly led him on the platform, but some users believe the figures started flipping after the vice president talked about her economic policies.
Several outlets have reported that Harris' policies will contrast those of the aging GOP frontrunner, but Harris has also been accused of "stealing" some of Trump's policies. Activist Philip Anderson said Sunday that the Democratic leader "stole two of Trump's policies and then offered communism on the side."
Kamala Harris stole two of Trump’s policies and then offered communism on the side.
— Philip Anderson (@VoteHarrisOut) August 18, 2024
Glad to see that the Polymarket is holding her accountable for it.
Republicans 'underestimated' Harris?
One user raised a matter that has been on some news stories since Harris replaced President Joe Biden as the Democratic candidate – Republicans may have "underestimated" Harris' potential as a presidential frontrunner.
Other users believe Harris will "pull back" the numbers before the Democratic National Committee (DNC) convention this week, which will then show where the race really is among Polymarket traders.
She’ll likely pull back into the lead during the DNC convention this week.
— BillLion (@billlion2022) August 18, 2024
After that we’ll see where this race is really headed.
Harris' policies
Harris, who briefly took presidential power late in 2021 after Biden went under the table for a routine colonoscopy, on Friday unveiled her administration's economic priorities if she wins in November.
Among the key aspects of her policies are lowering grocery prices, expanding work on affordable housing, and cutting taxes for middle class citizens. She vowed to penalize corporations that exploit consumers and promised to impose aggressive regulations on mergers of huge food companies.
Trump's policies
Trump has yet to release a detailed economic plan, but he has also repeatedly vowed to bring prices down amid the inflation crisis. In June, he pledged to end federal taxes on tips – a proposal Harris also floated earlier this month.
He also announced a plan to end taxes on Social Security benefits to help seniors who, like many Americans, are reeling from the impact of inflation.
Notably, Trump has called for more tariffs on imports from various countries. His administration is known for clashing with China over tariffs as the world's two economic giants competed in technology and military power.
Where do they stand on crypto?
As of early Monday, Harris has reclaimed her lead on Polymarket. Her chances of winning, as per crypto traders on the platform, are now at 50%, while Trump is close behind with 48%.
While both candidates may have similarities in some economic policies, the two are starkly different in their stances over crypto. Trump has repeatedly expressed support for the industry in recent months, while crypto users who would rather not vote for the Republican are still waiting for Harris to talk about the emerging sector.
