According to Polymarket’s bettors’ odds, President Joe Biden remains the frontrunner with a 48% probability of retaining the Democratic party’s nomination for the 2024 presidential election. Vice President Kamala Harris closely follows with 36% odds. 

Politics have become one of the hottest topics on Polymarket, a site where users place bets on some of the world’s most highly-debated current events.

Biden remains determined to run for re-election in 2024 despite increasing calls from some Democrats for him to withdraw due to concerns about his age and mental acuity on the heels of a disappointing presidential debate performance against former President Donald Trump.

The debate sparked anxiety within the Democratic Party almost immediately. It also led some donors and allies to question Biden’s viability as the best candidate to challenge Trump. 

Despite these concerns, Biden remains resolute in his decision to seek a second term, confidently asserting that he will defeat Trump again this year.

In a televised interview with George Stephanopoulos, Biden — who would be 86 at the end of a second term — said: “If the Lord Almighty came down and said, ‘Joe, get out of the race,’ I’d get out of the race… But the Lord Almighty is not coming down.”

Poll numbers

According to a July 6 Morning Consult poll, Biden continues to underperform Trump among each candidate’s respective 2020 voters and their own party bases.

The two presumptive nominees are also splitting independent voters almost evenly.

Within individual swing states, Biden leads Trump in Michigan and Wisconsin, but has no advantage in Arizona, Georgia, Nevada, North Carolina and Pennsylvania.

Among all swing-state voters, 55% said Biden should not continue his campaign, including 29% of Democrats and 58% of independents.

Biden’s defiant stance has elicited mixed reactions from within his party. While some Democratic leaders, including Harris, have voiced their support for him, others, like Illinois Representative Mike Quigley, have urged him to step aside in favor of new leadership. 

Meanwhile, Harris has been working to raise her profile and emphasize her achievements, likely in preparation for a potential succession.

Kamala Harris meme coin soars over 429% in two weeks

The Harris parody meme coin, Kamala Horris (KAMA), has experienced a dramatic surge in value over the past 14 days, increasing by more than 429%. This surge coincides with the controversy surrounding Biden’s status in the 2024 presidential race.

According to CoinGecko, KAMA’s price has increased by 44.2% in the past week, currently trading at $0.0073 with a 24-hour trading volume of $759,945. The token’s market capitalization is $7.3 million.

Technical analysis indicates that KAMA has broken through a key resistance level and is trading above its 50-day and 200-day moving averages, signaling a bullish trend. However, it is important to note that the token’s source code remains unverified and contains potential scam codes, though it does not appear to be a scam based on available parameters.

The surge in KAMA’s price coincides with the possibility of Harris becoming the Democratic nominee. This speculation has led to increased interest and investment in the KAMA token, with some investors viewing it as a way to capitalize on Harris’ potential candidacy.

Despite the recent surge, the token’s price remains highly volatile and speculative, with its long-term viability uncertain. 

Because of speculation over Joe Biden’s future in the 2024 presidential race, memecoins tied to potential successors like Kamala Harris have surged, which contrasts with volatile trajectories of Biden-inspired “Joe Boden” and “MAGA” coins.

As the United States enters election season, it’s becoming evident that both campaigns are using crypto funds and conversions much more than in previous years. 

According to recent reports, there is speculation about Biden considering his future in the 2024 race, causing traders on Polymarket to raise the odds of the Democrat dropping out to nearly 80% on Wednesday, up from 55% earlier. 

This sudden increase follows a week of volatility in Polymarket’s “Biden drops out of presidential race?” market, which has attracted nearly $10 million in bets. Before last week’s debate with Donald Trump, the odds of the same question were at 20%.