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Crypto Markets Like Their Odds With Kamala Harris

If crypto investors are any measure, Kamala Harris will replace President Joe Biden if he drops out.

Yes, the coconuts are continuing to fall from the tree for Biden following his disastrous performance at last week’s presidential debate, with confidence faltering in his ability to beat Donald Trump in the November general election. And nowhere is it more nutty than in crypto land.

On the burgeoning prediction market Polymarket, Harris’s chances of becoming the nominee surged today from 7% to a peak of 31% at midday. President Joe Biden was still the frontrunner at 58%, with Michelle Obama at 7% and California Gov. Gavin Newsom at 3%.

There is around $75.6 million worth of bets on the line for that poll.

For what it’s worth, in a separate poll on Polymarket, Biden’s likelihood of dropping out increased today to 45%, a 10% gain. The odds have fluctuated within 10 points since a high call of 50% on June 29, two days after the debate.

Meanwhile, $KAMA, which has become the Solana meme coin of choice to represent the vice president, saw a nice 127% pump today up to $0.00843 at 2:00 Pacific Time, according to CoinGecko, where the coin has an $8 million market cap. DexScreener shows that 1,171 unique wallets trade the coin. By comparison, $NOOSUM, a Newsom’s tribute coin with a $2.7 million market cap, was up 21.9% to $0.0043.

It almost goes without saying that $BODEN, Solana’s favorite Biden coin, continued to fall 70% since last week and was hovering at around a nickel, according to CoinGecko—a mere fraction of $TREMP, the Donald Trump coin, which is trading at around $0.55.

Meme coins are fueled entirely by memetic energy, of course, are extremely volatile, and frequently drop to zero. If you are looking for something that will retain at least some value, there is the Kamala Harris proof coin from the Hamilton Collection, or the Future 47th, 1st Woman President coin on eBay. Either one can always come in handy for a coin toss.

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