Elon Musk's Political Party To Launch In 2025? Odds Rise On Polymarket, The Crypto Betting Market Now Partnered With X

The idea that tech mogul Elon Musk may start his own political party this year is finding some backing from cryptocurrency bookmakers.

What happened: The odds that the Tesla and SpaceX CEO would create a political party in 2025 rose to 17% on the decentralized prediction market Polymarket. In fact, the probability that he launches a party as early as June was 7% as of this writing, up 2% in the last 24 hours.

More than $416 million has already been wagered on the June bet. Should Musk make an "explicit" official announcement, the market will resolve to "Yes."

Polymarket, based on Polygon POL/USD, allows users to buy "Yes" and "No" shares in USD Coin USDC/USD. The shares representing the correct outcome are paid out $1 USDC each upon market resolution.

It's worth noting that Polymarket is not available to U.S. residents due to regulatory restrictions.

Why It Matters: These odds come amid an escalating public feud with Musk and President Donald Trump.

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The fallout has turned ugly, with Musk accusing the Trump administration of withholding documents related to Jeffrey Epstein. Trump responded by calling Musk "crazy" and threatening to cancel federal contracts and subsidies awarded to Musk's businesses.

Notably, Musk suggested the idea of creating a new party in the U.S. that caters to the “80% in the middle.”

Last week, Musk's X announced an official partnership through which Polymarket will serve as its official prediction market partner. As part of the partnership, Polymarket predictions will be combined with 𝕏 data to provide live insights.

Photo Courtesy: Frederic Legrand – COMEO on Shutterstock.com

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