Zinger Key Points
- Polymarket trader Redegen currently faces a $460,000 unrealized loss, betting on Kamala Harris to win the popular vote and the presidency.
- The Popular Vote Winner 2024 market on POlymaret shows $498.5 million in volume, with Harris holding a 58.2% implied probability.
- Get New Picks of the Market's Top Stocks
Pseudonymous Polymarket trader ‘Redegen’ has reaffirmed his confidence in Kamala Harris winning the popular vote, backing his previous multi-million dollar bet on the Vice President.
What Happened: The trader Redegen remains confident despite being over $400,000 underwater on his bet, advising followers to “ignore the short-term volatility."
He sees the odds of former President Donald Trump adjusting lower within a week, predicting a move from 66% to 53%, which he considers to be the true probability. “Despite new polls,” he added, “Kamala winning the popular vote is ‘certain.'"
Redegen's total outlay stands at $6.4 million, with no changes over the past four days despite his loss expanding from $250,000 to $465,000. The also holds a position against Trump winning both the popular vote and the election.
Why It Matters: Redegen's stance aligns with recent political sentiments, including Kamala Harris's focus on economic policies benefiting small businesses and working families, which she emphasized in a recent interview. The superiority of her economic plan over Trump's is the crux of her economic plan.
His comments also align with Sen. Bernie Sanders's (I-Vt.) endorsement of Harris despite policy disagreements, reflecting broader concerns among some voters about issues like the war in Gaza.
In related news, Robinhood recently launched Election Event Contracts, allowing users to bet on the 2024 presidential election outcome, with contracts available for both Kamala Harris and Donald Trump.
What's Next: The influence of prediction markets is expected to be thoroughly explored at Benzinga's upcoming Future of Digital Assets event on Nov. 19.
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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