How Biden's State Of The Union Affects 2024 White House Odds
Portfolio Pulse from Chris Katje
President Joe Biden's State of the Union speech and Super Tuesday results have positively impacted his odds for the 2024 presidential election, according to Polymarket. Former President Donald Trump also saw improved odds. Polymarket users bet on political outcomes using cryptocurrencies like Polygon (MATIC), USDC, and Ethereum (ETH). Current odds favor Trump at 54% and Biden at 33%. Betting trends indicate a slight shift in favor of the frontrunners, with Biden experiencing the largest increase in dollars wagered.
March 08, 2024 | 8:35 pm
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POSITIVE IMPACT
Ethereum (ETH) can be used for deposits on Polymarket, which may see increased activity due to Biden's speech and the changing election odds.
With Ethereum (ETH) being an option for deposits on Polymarket, the platform's increased activity due to election betting could lead to more ETH transactions.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Polymarket, a major prediction market, uses Polygon (MATIC) for betting on political outcomes. Biden's speech and election odds could increase interest in MATIC.
Given Polymarket's role in election betting and its use of Polygon (MATIC), positive news related to election odds could drive increased usage and interest in MATIC.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
USDC is used for deposits on Polymarket for betting on political outcomes. The attention from Biden's speech and election odds may boost USDC's visibility and use.
As USDC is a primary currency for deposits on Polymarket, heightened interest in election betting following Biden's speech could lead to increased transactions and visibility for USDC.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70