Polymarket bettor predicts 46% chance of Biden leaving the party by November

Gamblers at decentralized blockchain betting site Polymarket have increased their odds of President Joe Biden dropping out of the race ahead of the US presidential election in November.

Traders estimate that the odds of Biden withdrawing his nomination have risen to 46% from 19% on Thursday following his first presidential debate with former President Donald Trump last week.

There is criticism over whether the 81-year-old will be able to secure another term because of his age. A shaky performance in the first CNN-hosted debate against Trump on Thursday did little to assuage those concerns.

At times, Biden seemed to slur his sentences, his speech was slurred, and he even indulged in bizarre arguments about who was a better golfer.

By contrast, Trump has been calm about addressing the issues for which he has become famous, including immigration and foreign policy, while decrying Biden’s mistakes.

“I really don’t know what he said at the end of that sentence,” Trump said of Biden on immigration. “I don’t think he knows what he said either.”

A poll conducted by CBS News and YouGov on Friday and Saturday after the debate found that only 28% of registered voters support Biden and 72% oppose his presidential bid.

On Sunday, leading Democratic figures and major donors rallied to support President Biden as the party’s nominee, responding to growing calls for him to leave. The Wall Street Journal It was reported.

President Biden, who is three and a half years older than Trump, spent the day at Camp David on Sunday with first lady Jill Biden and her family.

In informal discussions, his family has urged him to continue his re-election campaign, presenting a united front and strong consensus to ensure he continues the race. wall street journal.

Cryptocurrency as an Election Issue

Last week, Polymarket traders predicted a 61% chance that Trump would raise Bitcoin or any cryptocurrency at Thursday’s debate.

Topics covered included the state’s right to abortion, foreign policy, healthcare, the environment, and compliance with democratic processes, but there was no mention of cryptocurrencies.

Cryptocurrencies became an election issue after the former president endorsed the asset class at a Mar-a-Lago event for Trump-themed NFT holders last month. Since then, Trump has started accepting cryptocurrency donations and has called for increased Bitcoin production in the United States.

In contrast, Biden-appointed SEC Chairman Gary Gensler has been heavily criticized by the crypto industry for what it sees as a toxic approach to regulation through litigation.

“Trump’s embrace and acceptance of cryptocurrencies stands in stark contrast to the Biden administration’s overwhelmingly regressive approach to crypto,” said Nansen analyst Edward Wilson. Decryption. “Many US-based advocates see crypto as a core issue and are fed up with the approach of chasing after industry behemoths like Coinbase and Uniswap.”