Following Tuesday night’s presidential debate, U.S. Vice President Kamala Harris’ odds of winning the November election surged on crypto-based prediction platform Polymarket, putting her in a tie with former President Donald Trump. Polymarket’s $860 million market showed both candidates with 49% odds of victory, a shift from Monday when Trump led with 52%.
The debate, which covered key topics like the Gaza conflict and abortion rights, saw no mention of cryptocurrency. However, Harris’ debate performance was favored by Polymarket bettors, with 94% believing she won, though official polls have yet to confirm this.
Harris’ odds rose from 46% to 49%, while Trump’s dropped, despite his consistent pro-crypto stance. Harris has recently engaged with the crypto sector but has yet to solidify her position on the industry.
Crypto Market Reaction
Bitcoin briefly climbed above $58,000 before the debate but dipped to $56,700 during the event. It remains at $56,797 as of writing. Market analyst Justin d’Anethan from Keyrock noted that bitcoin’s reaction was muted, behaving similarly to other risk assets like tech stocks.
“The crypto market is watching but not reacting — at least, not yet,” d’Anethan said, suggesting that bitcoin is waiting for a significant event, such as a macroeconomic shift or a political surprise.
PolitiFi Coins and Market Movements
Coins inspired by the candidates, like Super Trump (STRUMP) and Kamala Horris (KAMA), experienced declines following the debate. STRUMP dropped by 6.8%, while KAMA fell by 5.7%, according to CoinGecko data.
Presto Research’s Peter Chung attributed these moves to Harris’ better-than-expected debate performance, as the coin shifts occurred shortly after the debate began. However, d’Anethan cautioned that these movements are likely temporary, driven by short-term speculation.
As the election draws closer, the crypto market will likely continue to track political developments, but significant volatility may still depend on broader economic factors.
