Cryptocurrency traders bet strongly against Biden after debate

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Cryptocurrencies,2024 Presidential Election

Shares trading for Biden dropped more than 10¢ during the debate.

Share on email Blockchains make everything into a market, making it easy to place bets on almost anything, and last night the bets turned decisively further againstWhen people express their opinions in these markets, they do it with money on the line, which, in theory, should give their opinions a different kind of weight., in which one stranger calls another and asks what they think, and there's no consequence for the respondent if they lie.

Notably, meme coins have nothing backing their value. Unlike in a prediction market, which is a share in a real pool of money, holders of meme coins won't get anything if the candidate they represent wins.

 

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