Cryptocurrency punters now expect more than a 50% chance that the Democrats will sweep both the House and Senate in the upcoming midterms.
Democrats Gain Advantage
Polygon (CRYPTO: POL)-based Polymarket currently prices a 51% chance that the Dems take control of both the upper and lower chambers, up from 45% a month ago.
A year ago, the odds were 26%, and at the beginning of 2026, they were 34%.
Democrats were the frontrunners to take control of the House, with 89% odds in their favor. The Senate race was closer, with the blue party holding a 51% chance of reclaiming control.
The Republican Party currently controls both the House and the Senate. The midterm elections are scheduled for Nov. 3.
Trump’s Support Shrinking?
The odds come amid President Donald Trump’s sharply declining approval ratings, with some polls placing his overall approval as low as 32% to 34%.
Surveys conducted in August found Americans now trust Democrats more than Republicans to manage the economy, ending nearly a decade of Republican advantage.
This shift in public opinion comes amid climbing energy prices fueled by the conflict with Iran. August set a new record, with the national average for gasoline coming in at $4.056 per gallon. This broke the previous record set in 2022, which was $3.940 per gallon.
Trump defended rising gasoline prices as a necessary cost of seeking Iran’s denuclearization, saying he would “never apologize” because he “did the right thing.”
Photo: IAB Studio / Shutterstock – ek
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