A recent study conducted in October 2024 by venture capital firm Paradigm has revealed that 5% of participants identified themselves as single-issue crypto voters in the upcoming United States presidential election. These results indicate that this group of voters has the ability to significantly impact the outcome of the election, which is expected to be decided by a slim margin.
The survey conducted by Paradigm also showed that approximately 25% of crypto owners who were surveyed identified as single-issue crypto voters. This includes 11% of participants in the 18-34 age group, 8% of male respondents, 7% of African American voters, and 8% of Hispanic voters.
Paradigm pointed out that the 5% of voters who prioritize crypto-related policies is more than double the margin of victory in key swing states like Pennsylvania, Michigan, and Wisconsin, where election results are often decided by a narrow 1-2% margin.
Additionally, the poll indicated that 30% of respondents now consider the Republican Party to be more reliable in terms of crypto policies, compared to 24% who believe the same about the Democratic Party. However, 42% of crypto voters expressed distrust towards both parties when it comes to regulating crypto.
Despite the preference of pro-crypto voters for the Republican Party in the Paradigm survey, there was no clear advantage for either Donald Trump or Kamala Harris in terms of the popular vote.
These findings contrast with the election betting odds on platforms like Polymarket, where former President Trump is currently leading by a significant margin. This sudden increase in Trump’s lead in early October raised concerns about potential market manipulation, prompting Polymarket to launch an investigation. The platform claimed to have traced the pro-Trump positions back to a single, unnamed individual with a background in finance and trading.
The Paradigm poll also aligns with the views of Pennsylvania State University law professor Dr. Tonya M. Evans, who believes that single-issue crypto voters, among other voting blocs, could play a crucial role in determining the outcome of the 2024 Presidential election. Evans emphasized that the election is likely to be decided by very narrow margins, making it possible for groups like pro-crypto voters to sway the results in their favor.