FameEX Hot Topics | 5% of U.S. Voters Identify as Single-Issue Crypto Voters — Paradigm poll

A recent survey by venture capital firm Paradigm indicates that 20% of respondents currently hold or have previously owned cryptocurrency. The October 2024 poll also reveals that 5% of those surveyed identify as single-issue crypto voters in the U.S. presidential election. This suggests that the pro-crypto voting bloc could influence the election outcome, which is expected to be extremely close.

The Paradigm poll highlights that roughly one-quarter of crypto owners surveyed are single-issue crypto voters. This group includes 11% of respondents aged 18-34, 8% of male respondents, 7% of African American voters, and 8% of Hispanic voters. Paradigm points out that the 5% of pro-crypto, single-issue voters represent more than double the slim margin of victory in key swing states like Pennsylvania, Michigan, and Wisconsin, where election results are often decided by a margin of 1-2%.

The poll also found a notable partisan divide in trust toward crypto policies. About 30% of respondents view the Republican Party as more trustworthy on crypto policy, compared to 24% who favor the Democratic Party. However, a significant 42% of crypto voters expressed distrust toward both parties when it comes to regulating crypto. Despite a slight Republican preference among pro-crypto voters, neither Donald Trump nor Kamala Harris holds a decisive lead in the popular vote.

These results contrast with the betting odds on prediction markets like Polymarket, where former President Trump holds a strong 30-point lead over Harris. Trump's lead surged dramatically in early October, prompting concerns of potential market manipulation. Polymarket subsequently launched an investigation, identifying the source of pro-Trump positions as a single, unnamed "whale" investor, reportedly a French national with extensive finance and trading experience.

The Paradigm poll’s conclusion—that single-issue crypto voters could influence the 2024 presidential election—is supported by Pennsylvania State University law professor Dr. Tonya M. Evans. Dr. Evans explained that with razor-thin margins anticipated, various single-issue voting groups, including pro-crypto voters, could play a decisive role in the final outcome. Her insights reinforce Paradigm’s findings, suggesting that this voting bloc could be pivotal in determining the next U.S. president.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.