Cryptocurrency punters are favoring Democrats to win key Ohio races in the upcoming midterms, as rising prices weigh on the state’s working-class voters.
Democrats Have an Edge?
The Republicans are defending a Senate seat and the governor’s office as Trump approaches the midpoint of his second term. His magic “appears to be losing at least some of its luster” among some blue-collar men and women, according to Reuters.
Early voting started last week, with Democrats showing stronger initial turnout. In Trumbull County, home to many blue-collar jobs, 1,224 Democratic voters cast ballots, compared with 559 Republicans and 453 voters with no known party affiliation, the report mentioned.
In interviews with Reuters, some people said that rising fuel and food prices are causing them to reconsider their support for Trump.
Notably, consumer prices came in hotter than expected, rising from 3.4% to 3.7% year-over-year in September, and above the 3.6% estimated by analysts.
Others said that the Iran conflict has spurred greater domestic oil exploration, which in turn has increased demand for steel equipment.
GOP’s Data Center Push Could Cost Them Ohio?
Data centers have become a major issue in Ohio. Republicans, led by Trump, argue that they could eventually surpass the oil industry and urge states to support them with tax incentives.
However, the National Republican Senatorial Committee has reportedly alerted top AI firms, privately, about the potential political fallout from the negative public opinion surrounding U.S. data centers.
Punters See Ohio Turning Blue
Betting crowd on Polygon (CRYPTO: POL)-based Polymarket currently prices Democratic nominee Amy Acton as a heavy favorite to win the Ohio gubernatorial race, with the market assigning her roughly 72% odds versus 28% for Vivek Ramaswamy, the former presidential candidate.
Similarly, Sherrod Brown, former Senator from Ohio, pulled in 62% odds of winning the Senate race against incumbent junior Sen. Jon Husted (R-Ohio).
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