On 2nd Oct, US President Donald Trump announced on his Twitter that he and his wife tested positive for COVID19. Soon he left the White House and checked in the hospital for treatment.
And the news about Trump’s condition has dominated all the media these days. Only 3 days later, on 5th Oct, he said he was “feeling good” and returned to the White House. Guesses and jokes about this fast process have swept over social media. If you haven't check this tweet from our CEO Kyle, it really worths applauses.
Things get wild in the US President Election prediction market as well.
This is a new token issued by FTX, called TRUMPWIN. You can tell from its name what it stands for. The token price dropped sharply several times since 2nd Oct, then started to increase on 4th Oct as Trump gradually recovered from the disease.
Yes, besides rumor and laughter, if you have some ideas about election predictions, you may profit from it.
There are 4 products in FTX that you can predict the election result and profit from:
For TRUMPWIN token and TRUMPLOSE token, it is similar like other cryptocurrencies you are trading. Basically, you have 2 ways to earn from it.
First, buy high sell low, just similar to other tokens. TRUMPWIN token means you predict Trump will win the election, TRUMPLOSE token does the opposite.
What’s more, you can earn from your wise prediction. The rules to put your cents in and make a prediction is quite simple: Think Trump is going to win? Buy TRUMPWIN! Otherwise, buy TRUMPLOSE tokens! If Trump wins the 2020 US Presidential Election, TRUMPWIN can be redeemed for $1 each and TRUMPLOSE turns to $0. If Trump loses the 2020 US Presidential Election, TRUMPLOSE is redeemable at the price of $1 while TRUMPWIN worths nothing. Currently, the prices are $0.36(win) vs $0.64(lose), so the Crypto community seems not very positive towards Trump’s election result.
These 2 tokens we introduced above are both for spot trading. If you aim at huge earning and want to do derivatives trading, there’s another pair of tokens to invest: Trump 2020 and Biden 2020. They are both futures contracts on FTX. You can go long or short using any of the available forms of collateral.
Here are the latest price curves for these 2 tokens. The prediction market can be very sensitive to every issue about the two candidates. What do you think of this Biden’s rising and Trump’s dropping in the 2 charts above?
Either President 2020 contract expires to $1 if the corresponding candidate wins the 2020 US Presidential General Election, and $0 otherwise. Trump or Biden, whom are you going to vote for?
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