If crypto investors are any measure, there is growing speculation that Kamala Harris could replace President Joe Biden if he drops out. Biden’s recent performance at the presidential debate has caused concern among supporters, leading to a surge in confidence for Harris on the prediction market Polymarket.
Currently, Biden remains the frontrunner with a 58% chance of winning the nomination, but Harris has seen her odds jump from 7% to a peak of 31%. Michelle Obama and California Gov. Gavin Newsom also have their supporters, with bets totaling around $75.6 million on the line.
In a separate poll on Polymarket, Biden’s chances of dropping out have increased to 45%, showing a growing uncertainty surrounding his candidacy. This uncertainty is reflected in the market performance of crypto tokens like $KAMA, representing Harris, which saw a significant 127% increase in value.
On the other hand, tokens like $BODEN, representing Biden, have experienced a 70% decrease in value, highlighting the volatile nature of meme coins in the crypto market. For more stable options, investors may consider collecting Kamala Harris proof coins or Future 47th, 1st Woman President coins, which hold some tangible value beyond speculative trading.
Overall, the crypto market is closely watching political developments, with meme coins reflecting investor sentiment and speculation on potential outcomes in the upcoming election.
