ChainCatcher News: U.S. President Biden stated that he had a conversation with Trump and assured him that the government would work with Trump's team. (Jin Shi)

ChainCatcher news, according to Coindesk, as the AP, Fox, and NBC announced Trump's election, the Polymarket U.S. presidential election contract is set to end on Wednesday morning local time.

ChainCatcher news, on the decentralized prediction platform Polymarket, the cumulative trading volume for the 2024 U.S. presidential election has exceeded $3.6 billion.As of November 6, Republican candidate Trump has a trading volume of nearly $1.48 billion on Polymarket, while Democratic candidate Harris has a trading volume of $1.01 billion. This week, the trading volume for the U.S. presidential election accounts for 91.2% of the total weekly trading volume on the Polymarket platform.

ChainCatcher news, according to the Financial Times, the 2024 U.S. presidential election has set a record for the highest campaign spending in history. The Trump and Harris camps have raised nearly $4.2 billion in total, with actual spending reaching $3.5 billion.The report shows that as of mid-October, the fundraising scale of the two candidates' campaign teams, external support groups, and party committees is basically on par.

ChainCatcher news, according to Jinshi reports, the decision office predicts Trump will win the U.S. presidential election.

ChainCatcher news, according to CCTV News, the counting of votes for the U.S. presidential election is underway. According to preliminary estimates from several U.S. media outlets, Trump's electoral votes have risen to 177, while Harris has temporarily secured 99.As of the time of publication, U.S. Republican presidential candidate and former President Trump has won Kentucky, Indiana, West Virginia, Alabama, Mississippi, South Carolina, Oklahoma, Florida, Tennessee, Arkansas, Wyoming, Louisiana, South Dakota, North Dakota, Nebraska, Ohio, and Texas.U.S. Democratic presidential candidate and Vice President Harris has won Vermont, Massachusetts, Connecticut, Maryland, Rhode Island, Washington D.C., New Jersey, Delaware, Illinois, and New York.

ChainCatcher news, Bloomberg ETF analyst Eric Balchunas posted on the X platform that BTC suddenly surged today, possibly in response to the U.S. presidential election.Eric Balchunas added, "If anyone thinks Bitcoin is not a good indicator to watch today, please tell me why. In my view, BTC seems to be a clean indicator because it's a topic in the campaign, while stocks and bonds are less important, but I'm open to other thoughts."

ChainCatcher news, according to CNN, former presidential candidate and Trump supporter Vivek Ramaswamy stated that Trump's campaign has attracted more traditionally Democratic-leaning groups, including African Americans, Hispanics, and Gen Z voters. Ramaswamy pointed out that Gen Z voters are primarily concerned with issues such as avoiding involvement in foreign conflicts, preventing a "third world war," promoting economic growth, and lowering housing costs.Ramaswamy emphasized, "If the U.S. unfortunately gets involved in a foreign war, Gen Z will be the first to bear the brunt. Furthermore, prices have risen in recent years, while wage growth has not kept pace." When asked whether the results should be acknowledged if Trump loses, Ramaswamy stated, "Whoever wins the election should win, and the loser should acknowledge their defeat."

ChainCatcher news, although the Federal Reserve has been trying to stay as far away from politics as possible in 2024, Tuesday's U.S. presidential election is crucial for the Fed and its chairman Powell. The next U.S. president will fill several vacant positions, and Powell's term as Fed chairman will also end in May 2026, meaning either Trump or Harris will be able to choose the next leader of the Federal Reserve.Mark Spindel, chief investment officer at Potomac River Capital and historian researching the Fed and politics, pointed out in a recent interview that this is "a significant crossroads for the Federal Reserve." He added that if the Trump team wins, they will clearly be "very proactive." During his presidency, Trump frequently attacked Powell and openly pushed the central bank to act according to his ideas, even suggesting negative interest rates, and Trump has hinted that if he wins a second term, he might do even more.Federal Reserve policymakers will also have the opportunity to discuss these implications this week, as the FOMC will hold meetings in Washington, D.C. on Wednesday and Thursday. The main agenda for officials is whether to implement a second rate cut in 2024, with the market expecting the Fed to cut rates by 25 basis points this week, but political factors will certainly linger in their minds.

ChainCatcher News, just after midnight Eastern Time on November 5, voters in Dixville Notch, New Hampshire, were the first to cast their ballots, marking the official start of voting for the 60th U.S. presidential election.

ChainCatcher message, as of November 4, 12:15 PM Eastern Time, the betting amount on the decentralized prediction platform Polymarket for the U.S. presidential election has exceeded $3.13 billion. Republican candidate Donald Trump has a betting amount of $1.2 billion. Democratic candidate Vice President Kamala Harris has a betting amount of $782.5 million.

ChainCatcher news, according to monitoring by lookonchain, historically, the price of Bitcoin tends to rise within one month before and after each U.S. presidential election.Since October 5, 2024, the price of Bitcoin has increased by 10.99%.

ChainCatcher news, according to Jinshi reports, the United States will begin the 2024 presidential election next Tuesday (November 5). Many major polls still show that Trump and Harris are neck and neck. Data from the Commodity Futures Trading Commission (CFTC) indicates that hedge funds and managers have accumulated $18 billion in long positions in dollars ahead of the U.S. election vote. Currently, Wall Street strategists generally believe that Trump's promise to impose tariffs will support the dollar at least in the short term. Hedge funds and other speculative traders expect that the potential impact of the election on demand for safe-haven assets and the direction of tariffs will further boost the dollar.The market generally believes that Trump's proposal to lower corporate taxes will benefit corporate profits, so if he wins, it will boost U.S. stocks. On the other hand, Harris's potential tax increase policies are seen as relatively bearish for the stock market. However, Bank of America and Citigroup recently presented opposing views. Analyst Marc Chandler stated, "Many of the positive possibilities for next week have already been priced in, so the risks tend to be on the downside. Gold recently hit an all-time high but failed to break through $2800. Notably, when the U.S. stock market fell on October 31, gold also experienced significant selling, almost as if it was being liquidated to meet margin requirements."

ChainCatcher news, according to CoinDesk, Darius Sit, co-founder and chief investment officer of Singapore-based crypto trading firm QCP Capital, believes that the impact of the world's largest asset management company BlackRock entering the crypto space is more significant than the U.S. presidential election.Although support for Republican candidate Trump may bring short-term market volatility, Sit pointed out that BlackRock's Bitcoin ETF has brought cryptocurrencies into the mainstream investment arena. Sit stated that when BlackRock CEO Larry Fink publicly declared Bitcoin as a "store of value" on CNBC, it marked an elevation of cryptocurrencies' status in the U.S. investment market.Additionally, Sit noted that despite Trump's promise to create a more crypto-friendly policy during his campaign, the growth potential of the global market remains to be seen. QCP has recently expanded its business in Abu Dhabi, where regulators view digital assets as part of the capital markets, providing a stable market environment.

ChainCatcher News, White House Press Secretary Pierre stated that Biden will attend the U.S. presidential inauguration, regardless of who wins.