RFK Jr drops out of presidential race, while Trump takes lead on Polymarket

Independent candidate Robert F. Kennedy Junior has withdrawn from the 2024 presidential elections in the United States.

Kennedy withdrew from the election race on Aug. 22, according to a document filed to the Arizona Secretary of State.

The withdrawal comes ahead of Kennedy’s upcoming speech in Arizona on Aug. 23.

The withdrawal came days after Republican presidential candidate Donald Trump expressed his openness to Kennedy playing a role in his administration if the independent candidate dropped out, Trump told CNN.

The results of the US elections could greatly influence global crypto regulations, as the United States, being the world’s largest economy, is often regarded as a leading authority in setting international regulatory standards.

Related: Kamala Harris may continue the Biden administration’s crypto crackdown

Trump overtakes Harris in Polymarket odds

Trump has once again taken the lead on predictions markets, as the most likely candidate to win the US elections.

As of the time of publication, 51% of users were betting on Trump winning the election, while only 47% believed that Democratic presidential candidate Kamala Harris had a chance of victory, according to data from Polymarket.

Trump’s odds have spiked during the past week to overtake Harris, who was the leading Trump on Polymarket odds by 52% to 46% on Aug. 12, before more people started wagering on a potential Trump presidency.

Related: Harris aide suggests VP will ‘support policies’ for crypto industry growth