As speculation is growing about the future of Robert F. Kennedy Jr.'s 2024 presidential campaign, the crypto betting platform Polymarket has seen a rise in bets predicting his exit from the race.
This surge follows an announcement from Kennedy's campaign that he will "address the nation" on August 23, discussing the "present historical moment and his path forward."
This statement has fueled rumors that the speech could signal the end of his independent bid for the presidency.
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Kennedy's running mate, Nicole Shanahan, hinted in an August 20 interview that the campaign might conclude and potentially align with Republican nominee Donald Trump under a "unity party." Interestingly, on August 23, Trump is scheduled to hold a rally in Glendale, Arizona, just a short distance from Kennedy's planned speech in Phoenix.
The odds on Polymarket predicting Kennedy's withdrawal before November have increased from 51% on August 20 to 96% at the time of writing. The likelihood of him dropping out before September has jumped from 8% to 88%.
Polymarket has also introduced a new betting option asking if Kennedy would endorse Trump during his live address, with the odds for this scenario reaching 84% at the time of publication.
Kennedy began his presidential campaign as a Democrat in April 2023 but switched to an Independent bid in October. Throughout his campaign, he has been critical of both President Joe Biden and Donald Trump, with Trump even labeling him "the most Radical Left Candidate" in the race.
Kennedy has made digital assets a key part of his campaign, opposing the introduction of a central bank digital currency (CBDC) in the US, proposing to place the national budget on the blockchain, and suggesting backing the US dollar with Bitcoin (BTC).
Speaking at the Bitcoin conference this year, he also announced plans to increase the US government's BTC holdings to equal the value of the country's gold reserves.
As August 23 approaches, Kennedy's announcement is drawing a lot of attention, with the potential to significantly influence the 2024 presidential race.
