Will Barack, Michelle Obama Endorse Vice President Harris? Crypto Bettors Think Yes, But There's A Catch

New data from prediction market Polymarket shows that bettors are overwhelmingly confident that former President Barack Obama will endorse Vice President Kamala Harris in her presidential bid.

What Happened: The market bids, which close on Aug. 22, show a 93% likelihood of Obama’s endorsement, with over $350,000 wagered on this outcome.

Despite this high confidence among bettors, sources close to the situation paint a more complex picture.

Reportedly, the former president has reservations about Harris’s electability in a potential matchup against Donald Trump, according to a report by New York post. According to an NBC News report, the former President will endorse the current Vice President soon. This apparent hesitation stands in stark contrast to the market’s expectations.

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The Polymarket data also indicates strong betting support for other key Democratic figures to endorse Harris:

• Senator Bernie Sanders (I-Vt.) is given a 91% chance of endorsing Harris, with over $6,000 in bets placed.
• Former First Lady Michelle Obama has a 73% likelihood of offering her endorsement, according to over $25,000 in wagers.

These predictions come in the wake of President Biden‘s unexpected withdrawal from the race and his immediate endorsement of Harris as his successor.

While many Democratic leaders have quickly aligned behind the Vice President, Obama’s endorsement remains a subject of speculation and, now, active betting.

The total amount wagered on this prediction market has reached over $500,000 mirroring the high level of interest in Harris’s potential endorsements as she positions herself for a presidential run.

What’s Next: For more insights and updates on the evolving political scene, don’t miss Benzinga’s Future of Digital Assets event on Nov. 19, where key issues like these will be discussed by industry leaders and experts.

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