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Here’s how crypto bettors think Trump jurors will rule – DL News
- Jurors in Donald Trump’s secret trial are expected to reach a verdict this week.
- People are betting on the outcome on Polymarket, a cryptocurrency-based marketplace.
- Bettors expect jurors to return a guilty verdict.
As presumptive Republican presidential nominee Donald Trump awaits a verdict in his secret trial, a handful of crypto bettors have made up their minds.
The market “Trump found guilty in a case of silence?” from Polymarket now has $115,000 up for grabs, with bettors putting the odds of a guilty verdict at 78%.
In fact, that percentage has declined since the trial began in April, when bettors on Polymarket estimated the odds of Trump being found guilty at 83%.
Polymarket creates betting markets with simple binary options, such as “ETH Above $2,000 on June 30?”
Punters purchase shares whose price reflects the odds of an outcome at the time of purchase. In the case of the Trump trial, bettors could buy “yes” shares for $0.78 on Thursday. Those actions would be Worth $1 if they were right – in other words, if Trump was found guilty – and nothing if they were wrong.
Closing arguments in the Trump case began Tuesday and jurors began their deliberations on Wednesday.
Prosecutors have accused the former president of falsifying corporate records in connection with secret payments made to retired porn star Stormy Daniels.
According to Daniels, she and Trump had an affair in 2006. Trump has denied the allegation.
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In the days before the 2016 election that brought Trump to the White House, Michael Cohen, then one of Trump’s lawyers, paid Daniels $130,000 to buy his silence.
Trump, in turn, repaid Cohen. That’s where his legal troubles begin: According to prosecutors, Trump deliberately — and illegally — labeled the payments as “legal fees” in an effort to hide the secret payments.
Trump faces 34 charges in the case. If convicted, Trump faces probation or up to four years in prison, according to the report New York Times.
Drivers of the cryptocurrency market
- Bitcoin rose 2.1% in the past 24 hours to $68,700.
- In the same period, Ethereum grew by 1% to around $3,780.
What we are reading
Aleks Gilbert is a DeFi correspondent at DL News. Do you have advice? Please contact aleks@dlnews.com.