Is Trump’s victory confirmed? Jim Cramer says the markets predict a Harris victory.
TV personality Jim Cramer may have hinted that former US President Donald Trump will win the 2024 presidential election.
On Monday, November 4, Cramer reviewed the stock market's performance and said the moves indicated growing investor confidence in Vice President Kamala Harris' victory in the 2024 presidential election.
“I'm not sure the market is right about what a Harris presidency means for business, but at least we now have a blueprint for what Wall Street thinks it means.”
Some investors are taking Cramer's Harris forecast as a sign of a Trump victory, due to a phenomenon known as the “reverse Cramer” effect, which suggests that the opposite of Cramer's predictions will occur.
Cramer's prediction comes a day before election day in the US, where cryptocurrency is becoming a political focal point for the first time in history.
US Elections Cover Page. Source: Cointelegraph
A reversal of Cramer's trend led to an exchange-traded fund (ETF) to profit from shorting Cramer's stock tips. However, the ETF was closed and released 10 months later, attracting only $2.4 million in investment and returning a negative 15% since its launch — underscoring that Cramer's predictions aren't always wrong.
Trump vs. Harris, Winning Odds. Source: Polymarket
Polymarket odds flipped in Trump's favor on Oct. 4, marking the biggest change since September. On October 12, Trump was leading by more than 10 points, Cointelegraph reported.
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Polymarket whales are betting millions of dollars on Trump's victory
Polymarket Wells, or investors with large amounts of capital, continue to bet millions on a Trump victory, even on Election Day.
Earlier on November 5, an anonymous whale, “Walletmobile”, deposited nearly $5 million USDC in Polymarket to support Trump and deposited $2.8 million, according to Lookonchain data.
Another whale, “zxgngl”, Polymarket's biggest Trump supporter, spent an additional $3.1 million USDC on Trump bets on November 5th.
Polymarket whale tag, “zxgngl. Source: Polymarket
The mystery whale holds more than $18.5 million worth of “yes” votes for Trump, with a current windfall of more than $528,000, according to Polymarket data.
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On October 28, Cointelegraph reported that four of the six largest Trump polling accounts on Polymarket were controlled by the same entity, known as “Fredi9999”, who bought more than $20 million in value, helping to boost Trump's chances to more than 60.2%. Yes” will be shared until October 18.
However, transaction patterns suggest that account “zxgngl” is unrelated to the Polymarket accounts controlled by Freddie.
Top polymarket trumpet-voting accounts. Source: Polymarket
What's more, the mysterious whale has surpassed all accounts associated with Freddie, becoming the biggest trump on Polymarket with more than 29.4 million “yes” shares.
Harris vs. Trump 2024: What's wrong with the crypto market? Source: YouTube
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