Prediction market Polymarket supported Donald Trump’s victory in the presidential election, and then again Trump became the next president. People are currently betting on who will be elected Secretary of the U.S. Treasury, and the polymarket is indicative of Scott Bessent’s policies. odds The current nomination rate is 67%. Obviously, there are no guarantees. Janet Yellen has served as Treasury Secretary since January 2021.
Mr. Bessent is the founder and chief executive officer of hedge fund Key Square Group and was previously chief investment officer of Soros Fund Management, founded by prolific Democratic donor George Soros. . Bessent’s name has been floating around for several days since Trump’s victory. President Trump recently described Bessent as “one of the best people on Wall Street,” “respected by everyone,” and “a nice-looking guy.” According to of wall street journal. Mr. Bessent reportedly supported Mr. Trump’s campaign beyond extremely generous donations. President Trump’s key advisers reportedly support Bessent. around Bloomberg.
Mr. Bessent paid $500,000 to the Trump 47 Committee and other community chest accounts, according to Federal Election Commission data. and $750,000 to the Make America Great Again super PAC. Of course, there were other donations, including $413,000 to various Republican National Committee and affiliated accounts, and donations to individual candidates.
When asked recently if he would be part of the second Trump administration, CNBCBessent said“I’m willing to do whatever President Trump asks.” Needless to say, he just wrote Editorial in wall street journalpraising former and future presidents and criticizing not only Trump’s predecessor, but probably his predecessor if he actually becomes Treasury Secretary.
“Treasury Secretary Janet Yellen has distorted financial markets by borrowing more than $1 trillion in short-term debt at higher prices than historical standards,” he wrote. Shortly after, he said, “The failure of Bidennomics is clear. But Trump has turned the economy around before, and he’s ready to turn it around again.” The 23 Nobel laureates understand this. “Maybe not, but the financial markets have spoken loud and clear,” he wrote, referring to economists who warned against Trump’s return to office. But if Trump wins, the market will quickly If not, respond.
There are other candidates for Treasury secretary that people are betting on (and are mentioning in the chat), such as Howard Lutnick, chairman and CEO of financial services company Cantor Fitzgerald. Polymarket currently estimates the possibility to be 30%. Lutnick is co-chairman He is a member of the Trump administration’s transition team and is basically responsible for filling the positions of the next administration. FOX business reported Lutnick is “campaigning hard” for the role. Mr. Bessent and Mr. Lutnick largely took center stage after John Paulson, head of the family office of the same name, stepped down as Treasury secretary, citing “complex financial obligations.”
In Trump’s world, money speaks, and so does praise. We know that Elon Musk, the world’s richest man, fully supports Trump. He has appeared at campaign rallies and appeared on podcasts on behalf of the Trump, J.D. Vance ticket, and his super PAC has raised more than $130 million, according to FEC data. Now, Musk has been appointed to head the newly created Department of Government Efficiency, along with Vivek Ramaswamy, who ran as a Republican presidential candidate before dropping out to support President Trump.
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