Trump's presidential odds hit an all-time high on Polymarket.

Following a shooting incident during a rally in Pennsylvania, Donald Trump's odds of winning the upcoming presidential election surged by approximately 10 points to 70% on Polymarket, a platform where users can bet on events using cryptocurrency.

According to The New York Times, a spokesperson for the Secret Service confirmed the safety of the Republican presidential candidate after the incident, which resulted in the death of a suspected assailant and a bystander.

Following the incident, viral images and videos surfaced on social media showing Trump with a bloodstained face, making a defiant fist-pump gesture. This event occurred amid ongoing public discourse focusing on the perceived weaknesses of his rival, President Joe Biden.

Following the incident, meme tokens associated with Trump, such as “PoliFi” tokens, saw significant increases. For example, MAGA rose by 47% in 24 hours to $9.32, while TREMP increased by 22% to $0.4866, based on data from crypto.news.

Conversely, BODEN, a meme coin inspired by President Joe Biden, experienced a 21% decline over the same period to $0.03181. These tokens, popular for speculating on election outcomes, do not provide actual payouts to holders if their associated candidate wins.

Currently, Biden’s odds of winning the election on Polymarket are at 16%.

Trump, who has expressed support for Bitcoin should he win the 2024 presidential election, is confirmed as a featured speaker at an upcoming Bitcoin conference later this month.

During a statement in Washington, D.C., Trump emphasized, “I will ensure that the future of Bitcoin is developed in the U.S. and not outsourced abroad. I will uphold the right to self-custody.”

The Biden administration has maintained a hands-off approach to law-abiding cryptocurrency holders.

After earning income from his non-fungible token (NFT) digital trading cards, Trump has increasingly engaged with cryptocurrencies and announced his support for the sector in late May.

He has also begun accepting campaign donations in various digital currencies, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Dogecoin (DOGE).

Following Trump’s narrow escape from the Pennsylvania rally, where a bullet grazed his ear, the price of Bitcoin has risen above $60,000 per unit, up from earlier lows of $53,000 this month. As of this report, the leading cryptocurrency was trading at $59,970.