As Donald Trump is declared the 47th president of the United States, blockchain technology has proved itself as a source of truth.
PoltiFi meme coins and predictions markets like Polymarket and Kalshi heavily favored a Trump win, but mainstream sources had it neck-and-neck.
Here’s how the election unfolded in the PolitiFi space.
Money Talks: On-Chain Markets Trump Confirmation Bias
Political meme coins and prediction markets had Trump running away with the lead, but conventional sources didn’t see it coming.
Trump-themed meme coins made significant gains in the run-up to the election.
Meanwhile, Polymarket and Kalshi finished with Trump having 98% odds of winning. Especially on Polymarket, which facilitates the lion’s share of volume, Trump had been well ahead for weeks.
Yet, media headlines and polls showed Trump and Harris in a dead heat, potentially resulting from internal or organizational biases toward one party.
In future elections, people seeking facts will flock to blockchain data sources, which are censorship-resistant and immutable.
Crypto may have unlocked its first killer app.
On-chain PolitiFi tokens like MAGA (TRUM), MAGA Hat, and Kamala Horris reflected the real public sentiment.
If one candidate raised eyebrows or made blunders, the token prices would accurately show that – as would prediction market odds.
Traders would buy and sell tokens or betting contracts based on which candidate had the best chances of winning.
Yet, headlines can easily mislead, painting a different picture to reality.
This is the narrative Polymarket’s social media is pushing, highlighting that even as Trump’s victory was nailed on, conventional media sources were “stringing you along.”
Meanwhile, Polymarket Founder and CEO Shayne Coplan says the Trump HQ found out they were winning the run-in based on Polymarket data.
But now, the question becomes: what happens to PolitiFi now that the election is over?
The answer is easy for prediction markets like Polymarket and Kalshi. They offer a wide range of other real-world events for users to bet on.
However, the outlook for PolitiFi tokens is less clear. Though they’ve been a popular vehicle of speculation in the lead-up to the election, that avenue is exhausted now.
Either they must rotate to become “pure” meme coins, add new utility, or fade into the abyss with the election hype.
Top PolitiFi tokens MAGA (TRUMP) and MAGA Hat have plunged 19.1% and 21.7% in the past hour, marking a significant “sell the news” event for the sector.
Yet, one token is merging the memetic allure of these PolitiFi tokens with the utility of prediction markets, creating a compelling alternative to anything currently on the market.
It’s called FreeDum Fighters, and it’s currently undergoing a presale. This allows investors to buy at the ground-floor price before it lists on exchanges.
FreeDum Fighters Blends Predictions, Memes and Emergent Utilities – Future Of PolitiFi?
FreeDum Fighters is on the cusp of PolitiFi innovation with multiple novel utilities.
Most importantly, it held predictive staking pools for the election, allowing users to vote on mechanized representations of the candidates “MAGATRON” and “Kamacop 9000.”
Those who staked their tokens in the winning candidate’s pool receive $DUM token rewards. On-chain data shows that 66% of tokens predicted Trump’s victory, aligning with the overarching trend of the money market’s getting it right.
This staking feature holds a unique advantage over conventional prediction markets because users are staking and not betting, so they don’t risk losing their funds. They’ll get their tokens back once the event concludes.
But there’s more. The project will also hold weekly debates where users can argue for or against a given political topic. Winners will receive $DUM tokens.
Moreover, it has features like a comedic “Ask Joe” chatbot and a referral scheme.
FreeDum Fighters is open to community proposals, which could allow these staking pools to adapt to upcoming political events or even result in new features.
As such, experts are bullish on its price potential. Jacob Bury says it can 10x after the presale.
He highlights that it offers multiple innovative utilities, which could mark the next stage of PolitiFi innovation in a post-election world.
The current $DUM price is $0.00007, but this will rise in three days.
