Author: Thomas Carreras, DL News
Translation: Felix, PANews
The on-chain prediction market Polymarket shows that in the 2024 Democratic presidential candidate prediction, the odds of Vice President Kamala Harris winning have risen to 42%, while Biden's odds have dropped to 37%.
Despite White House spokespersons denying that Biden is considering withdrawing from the race, the likelihood of Biden dropping out has risen to 65% in the prediction market. Meanwhile, in the prediction of the winner of the presidential election, Vice President Harris's odds have risen to 16%, surpassing Biden (12%) but still trailing behind Trump (61%).
Vice President Harris's sudden rise has sparked speculation among crypto enthusiasts about her stance on cryptocurrencies. Has she previously been involved in or expressed opinions on the crypto space? Here is what is known about her stance.
Following Biden's poor performance in the debate with Trump last week, Harris has become the Democratic Party's top choice. The issue of Harris's stance on cryptocurrencies seems more urgent.
Although Biden has pledged to continue running, Harris has not publicly campaigned for the 47th President of the United States. However, according to Polymarket's predictions, Harris's odds of winning the presidential election have recently risen to 16%, surpassing Biden (12%) but still trailing behind Trump (61%).
At the same time, a meme coin named Kamala Horris, themed after Harris, has emerged, with Coingecko data showing a rise of about 600% in the past week and over 1500% in the past 30 days.
Given that the crypto industry has become a hot topic in this year's election and Harris's sudden rise, her stance on cryptocurrencies seems exceptionally important.
The Biden administration has maintained a hostile attitude towards the crypto industry, but Harris's stance is more elusive.
Harris has never taken an official stance on cryptocurrencies or made any comments on the industry.
Financial disclosures show that neither Harris nor her husband, Douglas Emhoff, have been involved in the crypto space, instead showing a preference for investing in US Treasury bonds and emerging markets.
It is worth mentioning that during the 2020 election, Harris did hire Ryan Montoya, the former Chief Technology Officer of the Sacramento Kings NBA team, as her scheduling director.
According to Montoya's LinkedIn profile, under his leadership, the Sacramento Kings became the world's first team to accept Bitcoin. The team has also mined Ethereum and launched an NFT series.
Montoya now serves as an assistant to the President in the White House, but he still retains his original scheduling responsibilities. Therefore, Montoya is unlikely to have an impact on policy.
However, according to a 2020 report by The New York Times, Harris, who hails from San Francisco, has close ties to the tech industry. When she was nominated as Vice President, she was seen as "good news" for Silicon Valley.
With the increasing lobbying activities in the crypto industry and representatives from Wall Street banks joining in, it may be "reasonable" for Harris to come out in support of Bitcoin before the presidential election. Of course, Harris may also adopt the same stance as Biden and pursue policies that suppress cryptocurrencies.
As the election approaches, PANews will continue to track and follow Harris's stance on cryptocurrencies.
Related reading: Trump meets with top Bitcoin miners in the US: vows to keep mining in the US and cheer for miners in the White House
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