On Saturday former US president Donald Trump was shot in his reelection campaign. The shooting sent the Trump presidential winning chances to an all-time high on the renowned crypto market prediction Polymarket.
As the US approaches the 2024 election the presidential aspirants have intensified their campaigns to share to the public their policies and manifesto. On July 13 the Republican presidential candidate was shot while campaigning in Butler County Pennsylvania. Even though the assassination attempt failed, Trump suffered injuries in his right ear.
Trump Shot at Campaign Rally
The terrible event saw the Secret Service agents and security experts teaming up to protect the presidential aspirant from the shooting. The shooter identified as Thomas Mathew Crook missed his target shooting the crowd that had converged at the rally. The shooting claimed the lives of one and two suffered severe injuries.
On X the Americans expressed mixed reactions to Trump’s shooting. Consecutively the Polymarket reading took a turn showing Trump’s possibility of retaking the White House in the November election.
The market prediction revealed that after the shooting Trump’s winning bet rose by ten points to 70%. The Polymarket data shows that Trump’s top rival was Joe Biden with 16% winning odds.
The Polymarket reading triggered Bitcoin to rally 7% over the weekend to trade above the $62K mark. Other tokens led by memecoin named after Trump PoliFi gained bullish steam after the rally shooting. CoinGecko illustrated that MAGA rose by 34% to trade at $8.38 daily while TREMP jumped by 67% to exchange hands at $0.6471.
The four-year-old market predictor has become a reliable source in political betting, with its trading volume reaching over $100 million in June. The Polymarket leverages the Polygon network to program the bets accordingly.
Rally Shooting Increases Trump Winning Odds on Polymarket
Notably leading bets on Polymarket are on the US election outcome where the traders purchase yes or no shares for each candidate. With Trump’s probability of winning the November Election, the Republican candidate has been crowned as pro-crypto president.
In his campaigns, the 78-year-old American politician has promised to shield the interest of crypto investors if he is elected. He vowed to make the US become the future of Bitcoin and promote the mainstream adoption of crypto.
Trump’s pro-crypto spirit made the Biden administration reverse course on crypto assets. The US president has been working to launch the central bank digital currency (CBDC) to boost financial inclusivity.
Trump Vows to Promote Crypto Adoption
Conversely, Trump has opposed the development of the digital dollar since it threatens American financial privacy. Trump has vowed to stimulate growth of crypto assets if he ascends office.
On the campaign trail, Trump accepted a crypto donation to support his reelection bid. He vowed to stop Biden from cracking down on the crypto sector which reignited that battle between the Republicans and the democrats.
Earlier last week Trump confirmed to attend the 2024 Bitcoin conference in Nashville Tennessee scheduled at the end of July. Trump is expected to give a 30-minute speech at the conference.
News concerning Trump attending the Bitcoin event was disclosed by his closest ally and the chief executive of Bitcoin Magazine David Bailey. The executive has been advising Trump on matters concerning crypto and Bitcoin during the campaign.
A statement from the co-founder of GSR Rich Rosenblum revealed that the rally shooting demonstrated Trump’s bid to invest in risk markets such as crypto. The official stated that political violence stimulates Bitcoin buying pressure.
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