Independent candidate Robert F. Kennedy Jr. has withdrawn from the 2024 presidential elections in the United States.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.
RFK Jr. withdraws from the presidential race. Source: 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 in prediction markets as the most likely candidate to win the US elections.
According to Polymarket data, 51% of users were betting on Trump winning the election as of the time of publication, while only 47% believed that Democratic presidential candidate Kamala Harris had a chance of victory.
Presidential Election Winner 2024, predictions market. Source: 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
RFK Jr. could join forces with Trump in a positive sign for US crypto regulation
RFK Jr. could be looking to play a significant role in a potential Trump administration.
Nicole Shanahan, the running mate of RFK Jr., suggested joining forces with former President Trump in a unity ticket. She hinted at a potential partnership during an Aug. 20 interview on the Impact Theory podcast:
“I think it behooves us to sit and see if we can actually make some real change, and if that is a unity party, I think that is something that we absolutely owe to the American public to explore.”
Shanahan said that the choice to drop out of the 2024 presidential campaign and join forces with former President Trump comes down to the probability of a Harris-Walz presidency. She noted that the Kennedy-Shanahan campaign takes disproportionately more votes from the GOP frontrunner than the Democrat-led campaign.
RFK Jr.’s vow to end anti-crypto policies was well-received by the crypto community. The independent presidential candidate had promised to back the US dollar with Bitcoin (BTC) in 2023 before the topic became a campaign issue leveraged by former President Trump.
Magazine: Criminal at Bitcoin 2024, BTC Strategic Reserve Bill, and more: Hodler’s Digest, July 28–Aug. 3