Crypto laws: Speculation about Bidens exit increases

After Joe Biden became infected with Covid-19, speculation about his withdrawal from the election campaign is increasing. Crypto gamblers are betting on Donald Trump.

On the crypto betting platform Polymarket, users are betting on Joe Biden's exit from the current US election campaign. Currently, the odds are at 85 percent, a record high. In an interview with BET News, Biden said he would consider a withdrawal if he were diagnosed with an illness.

Yesterday, on July 18, the US president announced that he was infected with Covid-19, but that he was recovering quickly. After that, the chances of his exit on Polymarket up. In a bet on the presidential candidacy, opponent Donald Trump is ahead of Biden by about 64 percent, who is in fourth place with only five percent.

Crypto investors are betting 22 percent on current Vice President Kamala Harris and seven percent on "another Democratic politician." Michelle Obama is also part of the betting with three percent.

While Biden's administration recently stood out for restrictions on the crypto industry, Trump is seizing the opportunity and promising support for crypto supporters. Whether Democrats declare Biden an official presidential candidate remains to be seen. The Democratic convention is scheduled for Aug. 19 in Chicago.