Markets
Here’s How Crypto Bettors Think Trump Jurors Will Rule – DL News
- Jurors in Donald Trump’s secret trial are expected to deliver their verdict this week.
- People bet on the outcome on Polymarket, a crypto-based market.
- Oddsmakers expect jurors to return a guilty verdict.
As presumptive Republican presidential nominee Donald Trump awaits the verdict in his secret trial, a handful of crypto bettors have made up their minds.
The market “Trump found guilty in hush money case? » from Polymarket now has $115,000 on the line, with punters putting the odds of a guilty verdict at 78%.
That figure has actually declined since the trial began in April, when bettors on Polymarket put the odds of Trump being convicted at 83%.
Polymarket creates betting markets with simple binary options, such as “ETH” above $2,000 on June 30?
Bettors buy stocks whose price reflects the odds of an outcome at the time of purchase. In the case of the Trump trial, bettors could buy “yes” shares for $0.78 on Thursday. These actions would be value $1 if they were right – in other words, if Trump is found guilty – and nothing if they were wrong.
Closing arguments in Trump’s case began Tuesday, and jurors began their deliberations Wednesday.
Prosecutors accused the former president of falsifying business records in connection with secret payments made to retired porn star Stormy Daniels.
According to Daniels, she and Trump had an affair in 2006. Trump has denied the allegation.
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In the days before the 2016 election that brought Trump to the White House, Michael Cohen, then one of Trump’s lawyers, paid Daniels $130,000 to buy his silence.
Trump, in turn, reimbursed Cohen. That’s where his legal troubles begin: According to prosecutors, Trump deliberately — and illegally — characterized the payments as “legal fees” in an attempt to hide the secret payments.
Trump faces 34 counts in the case. If convicted, Trump faces probation or up to four years in prison, according to the New York Times.
Crypto market players
- Bitcoin is up 2.1% over the past 24 hours to $68,700.
- Ethereum rose 1% over the same period to around $3,780.
What we read
Aleks Gilbert is a DeFi correspondent at DL News. Do you have any advice? Contact us at aleks@dlnews.com.