During the inaugural debate for the 2024 U.S. Republican presidential nomination on Wednesday, candidates attempted to steer discussions away from the absent former President Donald Trump. Still, entrepreneur Vivek Ramaswamy unexpectedly dominated the discussion.

Despite being major figures in this year’s Republican presidential nomination race, former President Donald Trump and Florida Governor Ron DeSantis did not play a leading role during the debate. Trump opted out due to his polling lead, choosing an interview with former Fox News anchor Tucker Carlson instead. DeSantis was present but was overshadowed by Ramaswamy, a tech entrepreneur known for his pro-Bitcoin stance.

Facing campaign challenges, DeSantis, initially seen as a major GOP contender against Trump, has seen his standing in polls decline.

Ramaswamy, 38, a new face in the political arena and behind Trump in most polls, has nevertheless edged closer to the front, partly due to his compelling personal narrative.

Blockchain Betting Insights: Ramaswamy Advances Over DeSantis in the GOP Nomination Race Blockchain-based prediction platforms, such as Polymarket and Manifold, provide a somewhat untraditional but insightful glimpse into public sentiment, even if their legal status is contentious in the U.S.

Post-debate, these platforms indicate that Ramaswamy has gained an edge over DeSantis, positioning him as a primary contender against Trump.

Polymarket, a leading blockchain prediction market, has seen nearly $5 million wagered on the Republican nomination outcome. While Polymarket data following the debate has been stable, heightened activity is anticipated as the 2024 election nears, given the platform’s growing popularity.

Currently, Trump remains the favorite on Polymarket, mirroring most polls. The platform’s betting dynamics suggest that if one bets 71 cents on a second Trump nomination, they’ll receive $1 if he secures the nomination. Conversely, a 32-cent bet against Trump yields nothing if he doesn’t get nominated.

Post-debate, DeSantis’s standing slightly declined on Polymarket from 14 to 12 cents. Ramaswamy, on the other hand, has seen his position strengthen from 13 to 16 cents, indicating growing support for him.

While Ramaswamy’s support on crypto platforms like Polymarket might be influenced by his pro-Bitcoin position, similar trends are visible in traditional polling and betting markets