As the United States presidential election inches nearer, the two contenders continue making several moves to capture citizens’ attention.
Republican candidate Donald Trump has doubled down on his efforts to win crypto investors’ votes. Following a Friday announcement of a crypto-centric platform dubbed World Liberty Financial, 84% of bettors on the biggest prediction market, Polymarket, expressed conviction that Trump will debut his token before the election date. At press time, however, that figure declined to 69%.
Trump to Launch Own Token
In early Friday, CryptoPotato covered details about Donald Trump’s World Liberty Financial, outlining that the platform will roll out on September 16 via Twitter Spaces. The project’s suite of services includes a digital wallet for lending and borrowing, a credit account system, and asset storage. It also promises U.S. investors access to DeFi products.
Since Trump’s World Liberty Financial secured a partnership with the DeFi lender Aave, the platform will likely enter the Ethereum network upon launch.
A careful look at its whitepaper shows that a governance token, WLFI, will be deployed to bootstrap the crypto platform. Announcing the World Liberty Financial launch strengthened bettors’ conviction that Trump will introduce a token.
Polymarket’s data shows that bettors began speculating about the possibility of Trump launching a token in mid-June. That period coincided with the flood of Trump-related meme coins in the crypto market. One such token was DJT, a controversial meme created by an ex-convict to support the crypto-friendly presidential candidate.
Expected Prediction Market Outcome?
Polymarket’s website shows that the prediction market for the question “Will Trump launch a coin before the election?” will resolve to “Yes” if Trump does launch a new token before November 4, 2024, a day before the country’s presidential election. The information must be verifiable from a credible source.
If, on the other hand, the presidential aspirant does not launch a token, the market will resolve to “No.”