Donald Trump

United

Bitcoin

President Donald Trump

United States Vice President Kamala Harris and former President Donald Trump didn’t mention crypto once in their first-ever debate on Sept. 10, while Trump’s odds of clinching an election victory slid as much as 3% on the decentralized betting platform Polymarket.
The debate between Harris and Trump, held on Sept. 10 in Philadelphia, focused primarily on each presidential hopeful’s plans for the economy, abortion rights, immigration and foreign policy.
Trump’s odds of winning the election <a data-ct-non-breakable="null" href="https://polymarket.com/event/presidential-election-winner-2024?tid=1726028429396" rel="nofollow noopener" target="_blank" text="null" title="https://polymarket.com/event/presidential-election-winner-2024?tid=1726028429396">plunged</a> on Polymarket throughout the debate, sliding by as much as three percentage points to 49% and bringing the two presidential hopefuls neck and neck for the first time on the decentralized betting platform.
<figure>
 <img alt="Harris-Trump debate: Trump’s odds to win election fall 3% on Polymarket" name="" src="https://s3.cointelegraph.com/uploads/2024-09/0191df00-4f89-799a-b059-0af4d5e2ec15">
 <figcaption style="text-align: center;">
 Trump (left) and Harris (right) at their first presidential debate in Philadelphia. Source: ABC News
 </figcaption>
</figure>
Harris maintained her composure throughout the debate and repeatedly prodded Trump, who at times came across as agitated and retorted with a slew of false claims, according to <a data-ct-non-breakable="null" href="https://www.politifact.com/article/2024/sep/10/presidential-debate-live-fact-check-harris-trump/" rel="nofollow noopener" target="_blank" text="null" title="https://www.politifact.com/article/2024/sep/10/presidential-debate-live-fact-check-harris-trump/">data </a>from fact-checking agency PolitiFact. 
<figure>
 <img alt="Harris-Trump debate: Trump’s odds to win election fall 3% on Polymarket" name="" src="https://s3.cointelegraph.com/uploads/2024-09/0191deff-7e0c-7c98-8541-b5e056f837bc">
 <figcaption style="text-align: center;">
 Trump’s odds of an election victory fell 3% on Polymarket. Source: Polymarket
 </figcaption>
</figure>
Shortly after the debate ended, pop star Taylor Swift officially endorsed Harris, telling her 284 million followers on Instagram that watching the debate had spurred her to back Harris, who she described as a “steady-handed” leader.
<h2 id="strong-harris-victory-could-spell-trouble-for-crypto-strong">Harris victory could spell trouble for crypto</h2>
Several analysts have pinned much of the crypto market’s short-term success — at least in terms of Bitcoin’s price action — on a Trump election victory in November.&nbsp;
In a Sept. 9 investment note to clients, Bernstein analysts predicted that a Trump victory on Nov. 5 could see Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="null" target="null" text="null" title="https://cointelegraph.com/bitcoin-price">BTC</a>) rally as high as $90,000 by the end of the year.&nbsp;
If elected, Trump has vowed to end what he calls <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/donald-trump-joe-biden-cryptocurrency-united-states-president" rel="" target="_self" text="null" title="https://cointelegraph.com/news/donald-trump-joe-biden-cryptocurrency-united-states-president">President Joe Biden’s “war on crypto”</a> and has made sweeping promises to back the crypto industry.
On Sept. 5, Trump said <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/trump-vows-us-world-capital-crypto-taps-elon-musk-task-force" rel="null" target="null" text="null" title="null">he plans to wipe out</a> any existing anti-crypto regulation and establish the United States as the “world capital of crypto.”
On the other hand, if Harris — whose official <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/kamala-harris-crypto-policy-democrats" rel="null" target="null" text="null" title="null">stance on crypto is still largely unknown</a> — wins the election, analysts believe the price of Bitcoin could fall as low as $30,000.
<h2 id="strong-political-spending-in-the-election-strong">Political spending in the election</h2>
Crypto getting no mention in the debate comes after three crypto-backed super political action committees (PACs) raised over $202 million from <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/crypto-super-pac-donation-jump-crypto" rel="null" target="null" text="null" title="null">major crypto industry backers</a> and spent $93.6 million to influence the 2024 elections.
The largest crypto PAC, Fairshake, has raised $177.8 million and spent $70.8 million of it in the 2024 election cycle, <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/democratic-primary-crypto-super-pac-victory" rel="" target="_self" text="null" title="https://cointelegraph.com/news/democratic-primary-crypto-super-pac-victory">mostly bankrolling attacks</a> on Democratic congressional candidates, <a data-ct-non-breakable="null" href="https://www.opensecrets.org/political-action-committees-pacs/fairshake-pac/C00835959/summary/2024" rel="null" target="null" text="null" title="https://www.opensecrets.org/political-action-committees-pacs/fairshake-pac/C00835959/summary/2024">according</a> to OpenSecrets.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/kamala-harris-policy-platform-digital-assets" rel="null" target="null" text="null" title="null">Kamala Harris releases policy platform details — No mention of crypto</a>
The debate brings betting market odds closer to national polling data, where Harris currently <a data-ct-non-breakable="null" href="https://projects.fivethirtyeight.com/polls/president-general/2024/national/" rel="nofollow noopener" target="_blank" text="null" title="https://projects.fivethirtyeight.com/polls/president-general/2024/national/">leads</a> Trump by 2.7 percentage points (47.1% to 44.9%) as of Sept. 10, according to a FiveThirtyEight average of polls taken before the debate.
<figure>
 <img alt="Harris-Trump debate: Trump’s odds to win election fall 3% on Polymarket" name="" src="https://s3.cointelegraph.com/uploads/2024-09/0191df01-41ae-7708-97f2-598349f61711">
 <figcaption style="text-align: center;">
 National polling averages for the US presidential election. Source: FiveThirtyEight
 </figcaption>
</figure>
Gallup <a data-ct-non-breakable="null" href="https://news.gallup.com/poll/1675/most-important-problem.aspx" rel="null" target="null" text="null" title="null">polls</a> from May show crypto isn’t at the top of American voters’ minds, with most ranking the economy, inflation, poor governance, and immigration as key issues.
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/bitcoiners-all-in-trump-since-bitcoin-2024-getting-risky/" rel="null" target="null" text="null" title="null">Bitcoiners are ‘all in’ on Trump since Bitcoin ’24, but it’s getting risky</a>

Harris-Trump debate: Trump’s odds to win election fall 3% on Polymarket

Table of Contents

Cointelegraph

Other articles published on Sep 11, 2024

ApeCoin Launches BluePrint Initiative to Enhance ApeChain with New Tools and Content

Raydium Launches “Burn & Earn” for Permanent Liquidity Locking

Friend.Tech Faces Uncertain Future After Transferring Control of Smart Contracts

Standard Chartered Enters UAE Crypto Market with Custody Services for Bitcoin and Ethereum

Floki's Valhalla Partners with OG Esports as Official Jersey Sleeve Sponsor

Price analysis 9/11: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB

Join our free newsletter for daily crypto updates!