Markets
Here’s How Crypto Bettors Think Trump Jurors Will Rule – DL News
- Jurors in Donald Trump’s secret trial are expected to deliver a verdict this week.
- People are betting on the outcome on Polymarket, a crypto-based market.
- Bettors hope jurors will 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 a decision.
The market “Trump found guilty in case of silence?” of Polymarket now has $115,000 at stake, with bettors putting the odds of a guilty verdict at 78%.
In fact, that number has decreased since the trial began in April, when Polymarket bettors estimated Trump’s chances of being found guilty 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 probabilities of an outcome at the time of purchase. In the event 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 on Tuesday and jurors began their deliberations on Wednesday.
Prosecutors accused the former president of falsifying business records in connection with hush-money payments made to retired porn star Stormy Daniels.
According to Daniels, she and Trump had an affair in 2006. Trump denied the accusation.
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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 problems begin: According to prosecutors, Trump deliberately – and illegally – labeled the payments as “legal expenses” in an effort to hide the secret payments.
Trump faces 34 criminal charges in the case. If convicted, Trump will face probation or up to four years in prison, according to the New York Times.
Crypto Market Movers
- Bitcoin rose 2.1% in the last 24 hours to $68,700.
- Ethereum rose 1% over the same period to around $3,780.
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Aleks Gilbert is a DeFi correspondent at DL News. Have a tip? Get in touch at aleks@dlnews.com.