Republican

Donald Trump

United

Phoenix

Independent candidate Robert F. Kennedy Jr. reportedly plans to drop out of the 2024 United States presidential race on Aug. 23.
On Aug. 21, RFK Jr.’s campaign <a data-ct-non-breakable="null" href="https://www.kennedy24.com/kennedy_to_address_the_nation" rel="null" target="null" text="null">announced</a> that the presidential candidate would address the nation live from Phoenix on Aug. 23 “about the present historical moment and his path forward.” ABC News <a data-ct-non-breakable="null" href="https://abcnews.go.com/US/rfk-jr-plans-drop-presidential-race-end-week/story?id=113028999" rel="nofollow noopener" target="_blank" text="null">reported</a> that, according to sources familiar with the decision, the announcement could focus on the Independent candidate dropping out of the race.
During an Aug. 20 interview, Kennedy’s running mate Nicole Shanahan <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/rfk-jr-running-mate-floats-unity-party-former-president-trump" rel="null" target="null" text="null">suggested the presidential ticket</a> might drop out and join with Republican candidate Donald Trump as a “unity party.” Trump is scheduled to hold a rally in Glendale, Arizona, on Aug. 23, a few hours after RFK Jr.’s announcement in Phoenix — roughly 16 kilometers away.
Since Aug. 20, the odds of several bets on predictions platform Polymarket centered around RFK Jr.’s campaign have surged. Odds on whether the Independent candidate will drop out before November <a data-ct-non-breakable="null" href="https://polymarket.com/event/will-rfk-drop-out-before-november?tid=1724268485300" rel="null" target="null" text="null">rose</a> from 51% on Aug. 20 to 98% at the time of publication, while the odds on leaving the presidential race before September surged from 8% on Aug. 20 to 90% at the time of publication.
<figure>
 <img alt="Polymarket odds of RFK Jr dropping out soar before Aug. 23 address" name="" src="https://s3.cointelegraph.com/uploads/2024-08/Screenshot%202024-08-21%20at%202.36.08%E2%80%AFPM">
 <figcaption style="text-align: center;">
 Source: Polymarket
 </figcaption>
</figure>
A question was added to the platform on Aug. 21 about whether RFK Jr. will endorse Trump during his live address. At the time of publication, Polymarket put the odds at 93%. Cointelegraph contacted the Kennedy campaign, which declined to comment.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/rfk-promises-end-to-crypto-hostility" rel="null" target="null" text="null">RFK Jr. latest to vow end to US crypto ‘hostility’</a>
Initially running as a Democrat, RFK Jr. launched his campaign in April 2023 in Boston, changing his party affiliation to Independent in October. He has openly criticized US President Joe Biden’s reelection campaign — before he dropped out on July 21 — and Trump’s run for the White House. In March, Trump, in turn, called Kennedy “the most Radical Left Candidate” in the presidential race.<iframe width="100%" height="315" src="https://www.youtube.com/embed/W9IZohqFmOk" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>
<h2 id="unusual-campaign">Unusual campaign</h2>
In 2024, RFK Jr.’s campaign was shadowed by several reports highlighting the candidate’s unusual behavior. Among them included a photograph suggesting that Kennedy ate a dog during a trip to Patagonia — he claimed it was a goat — and a video in which he admitted to leaving a dead bear cub in New York City’s Central Park as a prank.&nbsp;
Legal challenges may also have <a data-ct-non-breakable="null" href="https://www.nytimes.com/2024/08/12/nyregion/robert-f-kennedy-jr-new-york-residency.html" rel="null" target="null" text="null">barred</a> RFK Jr. from the November ballot in New York — a case that could have repercussions across other US states. Locals challenged the Independent candidate’s claims that he resided in the Empire State instead of California, where he and Shanahan both have homes. 
Under the 12th Amendment to the US Constitution, presidential and vice-presidential candidates from the same state are ineligible to receive that state’s electoral votes.
<h3 id="crypto-advocate">Crypto advocate</h3>
Since its launch in 2023, Kennedy’s campaign has made digital assets and blockchain technology a central issue. The presidential candidate has advocated against the US introducing a central bank digital currency, suggested <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/rfk-jr-put-us-budget-on-blockchain" rel="null" target="null" text="null">putting the national budget</a> on the blockchain, and proposed backing the US dollar with Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="null" target="null" text="null">BTC</a>) if elected.
Should RFK Jr. drop out of the race, it’s unclear whether it would benefit Democratic nominee Kamala Harris or Trump. Many RFK Jr. voters are single-issue crypto voters, and some are more aligned with Democrats than Republicans. Harris and Trump are scheduled to appear in a Sept. 10 debate, just two months before the November general election.
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/crypto-voters-are-already-affecting-the-2024-presidential-election/" rel="null" target="null" text="null">Crypto voters are already disrupting the 2024 election — and it’s set to continue</a>

Polymarket odds of RFK Jr dropping out soar before Aug. 23 address

Table of Contents

Cointelegraph

Other articles published on Aug 21, 2024

XRP Goes Global: Research Reveals Institutional Use Across All 7 Continents

50-Year Analyst Peter Brandt Reveals His Bitcoin (BTC) and Ethereum (ETH) Expectations!

Crypto Carousel Sees Huge Gains for Syscoin and BNB Price Pump, Rollblock Could 100x Before 2024 ...

US Policy Group Proposes Bitcoin Tax-Free Zone to Boost Digital Economy

BNB Faces Legal Obstacles

Tether to Launch UAE Dirham-Pegged Stablecoin with Phoenix Group

Join our free newsletter for daily crypto updates!