Crypto users betting on the outcome of the snap election to determine the next Prime Minister of Canada appear to be favoring a Liberal Party victory as residents head to cast their votes.
As of April 28, cryptocurrency betting platform Polymarket gave current Canadian Prime Minister and Liberal Party candidate Mark Carney a 79% chance of defeating Conservative Party candidate Pierre Poilievre in the race for the country’s next PM. Data from the platform showed users had poured more than $75 million into bets surrounding the race, predicting a Poilievre or Carney victory.
Polymarket chances favor the Liberal Party’s Mark Carney over the Conservative Party’s Pierre Poilievre to be the next Canadian Prime Minister. Source: Polymarket
The odds suggested by the platform, as well as those from many polls, show a nearly complete reversal of fortunes between the two candidates after former