Crypto Betters Bank on Trump's Pardon Power: Ross Ulbricht in Focus

As Donald Trump prepares to assume office for a second term, crypto bettors are pouring money into prediction markets, wagering on his potential pardons, with Ross Ulbricht, the founder of the Silk Road marketplace, emerging as a top contender. With over $1.1 million wagered on Ulbricht's pardon alone, the crypto community is eagerly awaiting Trump's decision.



Ulbricht's case has garnered significant attention from the libertarian and crypto communities, who view his harsh sentence as a symbol of excessive punishment in the digital era. Trump, courting these voters during his campaign, promised to commute Ulbricht's sentence if reelected. Polymarket bettors give an 85% chance of Trump pardoning Jan. 6 protestors and a 77% chance for Ulbricht, reflecting his vocal support for those prosecuted in connection with the event and Ulbricht's case.

However, not everyone is convinced that Trump will follow through on his promises. Some users on Polymarket question the suitability of Ulbricht for a pardon, citing reports that he allegedly paid more than $500,000 in bitcoin to arrange multiple murders. "Ulbricht did try to hire a hit on someone," one user commented. "Everything with Trump is transactional, and he doesn’t gain anything from pardoning him."

Despite these concerns, the crypto community remains optimistic about Ulbricht's chances. Prominent figures like Erik Voorhees, Roger Ver, and Tim Draper have thrown their support behind the "Free Ross" campaign, further amplifying calls for clemency. As the crypto industry's influence grows, with $131 million spent on congressional races and millions more to help return Trump to the White House, its impact on policy decisions, such as pardons, could become increasingly significant.

In conclusion, crypto bettors are banking on Trump's pardon power, with Ross Ulbricht's release emerging as a top priority. While some question the wisdom of pardoning Ulbricht, the crypto community's support and influence on policy decisions could make his release a reality. As the crypto industry continues to grow and flex its political muscle, its impact on Washington's treatment of its business and related policies will be a fascinating development to watch.