The pro-Canadian politicianBitcoin (CRYPO: BTC), Pierre Poilievrewould become Polymarket punters’ favorite to become the country’s next prime minister after the federal election to be held following the resignation of Justin Trudeau Monday.
What happened : The odds in favor of Poilievre, leader of the Conservative Party of Canada, have climbed to 88% on the decentralized prediction platform based on Polygon (CRYPTO: POL). In contrast, the likelihood of Justin Trudeau returning to power has fallen to less than 1% at the time of writing.
Approximately $467,645 was wagered on the outcome of the event, with Poilievre-related bets totaling $278,387.
The next Canadian federal election will be held on or before October 20 to elect members of the House of Commons.
Poilievre had an even higher probability on Kalshia federally regulated betting platform, with 95% odds in its favor at the time of writing.
Please note that Polymarket is not available to US residents due to regulatory hurdles.
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Why it matters : Poilievre has spoken out in favor of cryptocurrencies such as Bitcoin, calling on Canadians to invest in the sector to avoid inflation.
-The leader of the Conservative Party also wanted to make Canada the “blockchain capital of the world”.
However, Trudeau, a member of the Liberal Party, rejected these views, warning that anyone who followed Poilievre’s advice and invested in Bitcoin would “see their savings destroyed.”
The speculations and bets come in the wake of Trudeau’s resignation. The outgoing prime minister said he would resign after the Liberal Party chose its new leader, and said Parliament would be suspended until March 24.
Price Movement: At the time of writing, Bitcoin was trading at $101,722.91, up 2.35% over the past 24 hours, according to data from Benzinga Pro.
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