Trump’s Crypto Token? Bettors See 84% Chance

Market participants on Polymarket place bets on the potential for Donald Trump to launch his own cryptocurrency before November’s election.

Betting odds on Polymarket for Donald Trump launching his own cryptocurrency token before the November 2024 election spiked to 84% following his announcement of the World Liberty Financial (WLF) project. The odds increased dramatically from just 16% a month ago, as Trump confirmed the upcoming launch of the project. However, the probability later reversed, reflecting some uncertainty.

World Liberty Financial, a crypto initiative helmed by Trump’s family, is slated for release soon, which raised anticipation in betting markets. Over $1.7 million in bets have been placed by Polymarket users on whether Trump will issue a token before the November deadline. For the market to resolve as “Yes,” Trump himself must issue a verifiable token on the blockchain by November 4, 2024.

Interestingly, the project’s white paper mentions plans to introduce a governance token, "WLFI," but specific details about Trump’s personal involvement in the issuance remain unclear. Despite this ambiguity, some bettors remain optimistic about the token's launch, believing that the technical groundwork has already been laid, with multiple test tokens being deployed on Ethereum.

Skepticism persists among other Polymarket participants, some of whom argue that even if a token is launched, it may be spearheaded by Trump’s son, rather than the former president himself, especially in the wake of his previous controversies involving non-fungible tokens (NFTs).

The outcome of this prediction market remains to be seen as the election nears and further details about World Liberty Financial emerge.

photo source / Blockonome