The political shift in the US has brought many beneficial opportunities for crypto investors, as Donald Trump’s win boosted the entire crypto. This led to the bull’s dominance, where many cryptos grew to new highs, making heavy returns for the participants. However, that was not limited to that. The previous rumors that Joe Biden would pardon Hunter brought another investment opportunity for many on polymarket bets. Interestingly, one made $331k in profits as he bet on the pardon.
Crypto Investor Bet $88k on Joe Biden’s Pardon For Son
Polymarket is the decentralized prediction market that went viral with the Trump Vs Harris polls and then the next SEC Chair candidate polls. However, now it made crypto investor thousands in profits after he bet on Joe Biden’s pardon prediction. As Polymarket allows for creation and trade predictions, this individual made $331k after his bet on the pardon came true.
This guy bet $88k that Joe Biden would pardon his son Hunter.
He just walked away with $311,000. pic.twitter.com/4pz7pw5qTJ
— Polymarket (@Polymarket) December 2, 2024
Interestingly, the crypto investor was quite confident with his bets as he invested $88k into this and has walked away with $311k in profits after Joe Biden announced his pardon on Hunter on December 1. Hunter, Biden’s son, was involved in a four years-long legal battle over the purchase of a firearm. However, that is not the only issue, as the prosecutors questioned his integrity while in possession. This is a big issue, especially when the prosecution is considering his drug addiction and family issues. Additionally, he failed to pay $1.4M in taxes over his income from various personal business and personal expenses, including drugs, lifestyle buys, and escorts.
Overall, this crypto investor made a 254% return on his investment. Additionally, this becomes a prime example of why every market news is an opportunity for the seeker. However, considering the FBI’s raid on Polymarket CEO over the doubts of manipulation in election polls, there are concerns over betting on the platform.
Joe Biden’s Pardon For Hunter Received Worldwide Criticism
Joe’s pardon came completely out of the picture in June as he confirmed that he would not pardon Hunter and would abide by the Jury’s decision in June’s speech. Even the White House press Secretary Karine Jean-Pierre commented on the same on November 8. She said that,
We’ve been asked that question multiple times. Our answer stands, which is no.
However, Biden went past his earlier promises and signed a pardon for Hunter. President Biden says that his son was singled out and that his son’s prosecution was politically motivated.
Today, I signed a pardon for my son Hunter,” alleging that the prosecution of his son was politically motivated and a “miscarriage of justice.
This received a lot of criticism from netizens, as people called Joe and the administration liars. Eon Paul, the former congressman, commented that Joe Biden’s pardon is the ‘most sweeping presidential pardon since Gerald Ford pardoned Richard Nixon. He further claimed that it represented deep corruption and that the third World War conditions were directly tied to the Biden family seeking personal riches in Ukraine.
Joe Biden’s pardon of his son Hunter is the most sweeping Presidential pardon since Gerald Ford pardoned Richard Nixon.
It represents the deep corruption and contempt for the rule of law that has characterized the Biden presidency.
But it is also important for another reason:… pic.twitter.com/deOsh1NbKa
— Ron Paul (@RonPaul) December 2, 2024
Another satirical comment is that Biden will issue the pardon to himself and his entire family before he leaves office. The commenter did not back from calling the Democratic party an organized crime syndicate. However, there is much more, as people debate that Donald Trump would have done the same. Meanwhile, others claim that this is why the US needed Trump this time.
Final Thoughts
Joe Biden once again supported his son, Hunter Biden with his legal issues. The current US President has granted the pardon and saved him from possible imprisonment. A few crypto investors concluded that this is the perfect investment opportunity. In this, one invested $88k on Polymarket before Joe Biden’s pardon on December 1. Interestingly, the crypto investor’s prediction came true, making $311k in profits.
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