Donald Trump has moved past Kamala Harris on Polymarket in his campaign for the upcoming presidential elections. Trump now holds a 50% chance of winning compared to Harris' 49%.
Trump Takes the Lead on Polymarket
Republican candidate Donald Trump took the lead in the prediction market over Kamala Harris. Recent polls place Trump at 50%, while Harris stands at 49%. The slight lead came amid the Democratic National Convention. Previously, US Vice President Harris led and extended her lead on Polymarket after Joe Biden withdrew from the race. This was due to the momentum of Harris's campaign, which saw her chances soar to 52%. As the campaign intensifies, slight swings are expected on both sides with crypto-related policies moving to the fore. On Aug 19, the Democratic National Committee released its party ideals without the mention of cryptocurrencies. Crypto policy watchers say the party needs a clear-cut agenda for the market. As the market becomes mainstream in the coming polls, stakeholders look for pro-industry candidates with several support groups leaning toward the sector.
Market Scrutinizes Tax Plans
Initial reactions after Donald Trump surged in the polls pointed to alleged claims that Kamala Harris would endorse a 25% unrealized gains tax. While this isn’t confirmed, critics took to X (formerly Twitter) to lambast such alleged policy directions. Cardano’s co-founder Charles Hoskinson wrote that a 25% tax on unrealized gains is the most unconstitutional theft proposed by a political party. "25 percent tax on unrealized gains is the most insane, unconstitutional theft ever proposed by any political party. You didn’t make any money. You have no access to these “gains.” But somehow, a government official will just invent a profit and send you a tax bill. This is theft."
Crypto Community Reaction
Reaction on Polymarket and to the supposed tax was sharp. One user, playing with the platform, commented: "Can’t believe polymarket is selling a full 25% tax on unrealized gains dollar at basically half off."
Donald Trump takes the lead on Polymarket, surpassing Kamala Harris with a slight advantage. As both campaigns intensify, cryptocurrency policies become increasingly significant in the upcoming elections.
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