Donald Trump’s chances of winning the upcoming presidential election have significantly increased, with prediction markets now giving him a 53.6% chance of victory. This has led to speculation that if Trump wins, individuals with pro-crypto attitudes may have a greater influence on regulating the American securities regulatory body, potentially reshaping the financial oversight in the U.S. to be more favorable towards cryptocurrencies.
The rise in Trump’s odds has brought attention to potential candidates like Robinhood Chief Legal Officer Dan Gallagher and former CFTC Chairman Chris Giancarlo, who are known for their support of Bitcoin and crypto. This shift in leadership could signal positive changes for the crypto space under a Trump administration, as analysts predict a possible surge in Bitcoin prices, driven by a forming “golden cross” pattern that historically triggered significant rallies.
