Republican Party To Sweep Congress Majority After Senate Win: Polymarket

With the official win of Donald Trump in the US Presidential Election 2024, the voters might witness the Republican party sweep the congress seats after the Senate win. The Polymarket data has highlighted an interesting view around the winning odds after it predicted Trump’s win. Interestingly, moments before the result, the charts indicated 99% odds in favor of Trump and 1% in favor of Harris.

Meanwhile, there are also concerns about the crypto market’s performance with the election results, as investor fears the market crash.

Polymarket Odds Indicates The Republican Party’s Win In The House

Polymarket has become the most visited website for the US presidential election bets. The Trump Vs. Harris polls presented quite a clear picture of the voter’s sentiments around the next president. Though the winning odds were in Donald Trump’s favor, there were moments when Harris also led the charts. Here, Donald voters have spent more than $1B, where many major whales have also participated. The amount is not any less significant for Kamala as people have also bet $950M on her.

Now, the focus is on the seats won by each party over the Congress, as the Republican party has already seized the US Senate’s control on Tuesday evening. It was an epic moment, as they won the major seats for the first time in four years.

As per the recent Polymarket X post, the odds of Republicans winning the House just hit 92%, and the people can witness a Republican party sweep. They further shared the 99% possibility of Donald Trump’s presidency, 99% of the Senate’s win, and a 92% probability of the Republicans winning the House.

Odds Republicans win the House just hit 92%.

We’re going to see a Republican sweep. pic.twitter.com/NWkeCQqBIP

— Polymarket (@Polymarket) November 6, 2024

At the same time, the New York Times report shows the Republicans leading the control with 193 wins, whereas the Democrats have only achieved 173. Here, the first one to accomplish the 218 seats will win the House control. However, it can take a few days or even weeks to calculate and determine the winner.

How Will Donald Trump’s Win Impact Crypto Market?

At the reporting time, the Associated Press data indicates that the Republican Party’s Donald Trump has gained 6,90,87,748 votes (51.2%). On the other side, Kamala Harris has gained 6,39,38,367 votes (47.4%) with losing strength to overcome this big difference between the two. However, Trump’s win is already clear, whose impact is also visible in the crypto market as the Bitcoin price hit a new ATH at $75,361.09 just two hours ago and is aiming for $100k next.

Many analysts claim that the US election positively impacts the crypto market’s performance. After analyzing the crypto market performance around the US Presidential election every time, the analysts find a significant boost before and after the result. This is why, the crypto donations hit $238M, showing the enthusiasm among investors for the future of the industry.

This is more significant as the BTC price has already begun moving with the bulls and might hit $100K and higher, as predicted by many analysts on Trump’s win. Meanwhile, many believe the impact would have been the opposite in Kamala Harris’s win, and the BTC price could have faced an 8% to 13% correction.