-
Sen.
J.D.
Vance
(R-Ohio),
who
is
pushing
to
revamp
crypto
regulation,
has
a
29%
chance
of
becoming
former
President
Donald
Trump’s
running
mate. -
This
is
according
to
bets
placed
by
traders
on
crypto-based
prediction
market
platform
Polymarket. -
Trump
is
expected
to
announce
his
pick
for
vice
president
next
week,
according
to
reports.
Sen.
J.D.
Vance,
the
Ohio
Republican
who
is
pushing
to
reform
regulation
of
digital
assets,
has
a
29%
chance
of
becoming
former
President
Donald
Trump’s
running
mate,
according
to
traders
on
crypto-based
prediction
market
platform
Polymarket.
Vance’s
odds
of
being
nominated
for
vice
president
by
the
GOP
have
more
than
doubled
from
14%
a
week
ago
on
the
platform,
which
settles
bets
in
USDC,
a
stablecoin,
or
cryptocurrency
that
trades
1:1
with
the
U.S.
dollars.
The
“Hillbilly
Elegy”
author
and
venture
capitalist
now
has
the
second-highest
odds
of
getting
the
Republican
veep
nomination
among
25
possibilities
offered
in
a
Polymarket
contract
that
has
garnered
$65
million
of
bets.
The
leading
bet,
however,
is
that
another
man
not
listed
among
the
choices
will
get
the
nod,
with
a
33%
probability.
Traders
can
buy
“yes”
or
“no”
shares
for
each
candidate.
Each
share
pays
out
$1
in
USDC
if
the
prediction
comes
true,
and
zero
if
not,
so
the
market
price
(29
cents
for
a
“yes”
share
in
Vance,
for
example)
represents
the
probability
of
the
forecasted
outcome.
A
separate
“Republican
VP
nominee?”
contract
with
$7.6
million
in
bets
puts
North
Dakota
Governor
Doug
Burgum
in
the
lead
among
14
possibilities
with
30%
odds.
Four-year-old
Polymarket’s
volume
has
gone
gangbusters
in
2024
amid
enthusiasm
for
political
betting
ahead
of
the
November
U.S.
election.
Trump
is
expected
to
announce
his
pick
before
or
during
the
Republican
National
Convention,
which
will
take
place
from
July
15
to
July
18.
Other
possible
contenders
are
Sen.
Marco
Rubio
(R-Fla.)
and
former
Housing
and
Urban
Development
Secretary
Ben
Carson
as
well
as
former
contestant
Vivek
Ramaswamy.
According
to
reports,
Vance
as
of
Sunday
had
not
been
asked
to
be
Trump’s
running
mate,
and
neither
had
Rubio.
Vance
could
be
a
popular
choice
among
crypto
industry
participants
given
his
efforts
to
advance
legislation
that
would
clarify
the
rules
of
the
road
for
digital
assets.
The
Senate
Banking
Committee
member
has
been
circulating
a
draft
of
a
bill
that
would
reshape
how
the
U.S.
regulates
digital
assets,
according
to
a
report
by
Politico.
Unnamed
sources
told
Politico
that
the
proposal
is
more
crypto-friendly
than
the
legislation
passed
by
the
House
in
June.