Trump extends lead on Polymarket after pivotal speech with Elon Musk

Republican presidential candidate Donald Trump extended his lead on Polymarket over Democrat presidential runner Kamala Harris after a strong speech with Elon Musk, the billionaire Tesla CEO.

According to data provided by Polymarket, Trump is leading with a 50.8% chance of winning the forthcoming U.S. elections. Harris currently stands at 48.4% odds of becoming the next U.S. president.

The total amount of bets on the November presidential election winner on the market prediction platform has reached $1.35 billion. Trump leads the chart with a $318 million volume, followed by Harris’ $258 million.

Trump, once again, hinted at releasing Ross Ulbricht, Silk Road founder, from prison in his speech on Oct. 5 in Butler, Pennsylvania. However, neither Trump nor Musk made any direct claims about the crypto industry.

Musk strongly and repetitively invited everyone to vote in the November elections and claimed that “if you don’t, this will be the last election.”

Per a crypto.news report on Oct. 5, Ben Horowitz, a venture capitalist who previously supported Trump before President Joe Biden left the race, shifted his focus to Harris. 

Horowitz said that he will make a “significant” donation to Harris’ presidential campaign as he’s hopeful for her tech policies to help industries like crypto and artificial intelligence.

The crypto market witnessed a strong bullish momentum following the Trump and Musk speech on the weekend. The global crypto market cap surged by 1.7% in the past 24 hours and is currently sitting at $2.31 trillion, according to data from CoinGecko.