ECONOMY

Kamala Harris: What are the chances of Kamala Harris replacing Joe Biden? Find out what does this crypto-currency prediction market say

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Is Vice-President Kamala Harris replacing Joe Biden as the official presidential nominee of the Democratic Party? If a crypto-currency based prediction market is to be believed, many of the people believe that she has the potential to replace Biden. The probability of her replacing Biden has increased by all most three times in recent times. The Democrats are nervous ahead of the presidential election in November. Biden’s popularity has reduced to a great extent after the first presidential debate. Polymarket is a crypto-currency based prediction market and it calls itself the world’s largest prediction market. Many others have indicated that Kamala Harris may be the right fit for the job.

Polymarket’s predictions:

The market has given a thumbs up for Harris replacing Biden on the ballot box. In the last 24 hours, the choice indicating that Harris would be the presidential candidate surged from 8% to 24%. Biden still remains the favorite with 58% of the people still supporting him. However, this increasing support for Harris comes at a time when questions are being raised about Biden’s cognitive decline. Among the Democrats, she is the most preferred candidate to replace Biden. She is still lagging behind Trump in various national surveys.

Also Read: US Independence Day 2024: Will stock markets stay open on Fourth of July?

What does Polymarket do?

It is a decentralized prediction market which operates using cryptocurrencies. It allows its users to predict on major global events using crypto-currencies. The users can buy or sell outcomes shares and this can be redeemed for $1 if the outcome so predicted is true. If the prediction is incorrect, the investment becomes a wasted opportunity.

Is Biden dropping out?

At a given period of time, the chances of Biden dropping out of the race stood at 56%. This is after his lackluster performance in the first debate.

FAQs:

Are political parties accepting donations through crypto-currencies?
Trump and the Republican Party are accepting donations through crypto-currencies. Recently, the party had to refund the donations received from two crypto-currency billionaires. What is the CRYPTO: KAMA?
It is a memecoin issued by Polymarket. It has surged in recent times.

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