President Joe Biden's announcement not to seek reelection has caused significant losses and gains in betting markets and meme coins. Traders on Polymarket experienced substantial financial impacts, with one losing $2 million and another profiting $800,000. A trader betting on Kamala Harris saw a 6,000% increase in their position. Additionally, a trader lost nearly $8 million by switching investments from Jupiter (JUP) to the Biden-themed meme coin Jeo Boden (BODEN).