Gavin Newsom's Democratic Presidential Nomination Prospects Sink as AOC Emerges as Frontrunner on Crypto

Rep. Alexandria Ocasio-Cortez (D-N.Y.) has overtaken Gov. Gavin Newsom (D-Calif.) as the leading candidate for the 2028 Democratic presidential nomination on a cryptocurrency prediction market.

AOC Edges Past Newsom

Polymarket, a Polygon (CRYPTO: POL) based prediction platform, currently assigns a 22% chance that Ocasio-Cortez wins and accepts the Democratic Party nomination for president. The odds are at an all-time high, up 3 percentage points over the last 24 hours and 7 percentage points over the week.

Newsom ranked second with 17% odds, down 3 percentage points over the past month and well below his January peak of 40%.

Cryptocurrency punters also priced in a 7% chance that Kamala Harris, the Democratic nominee in 2024, would win the 2028 nomination as well.

Over $1 billion has been wagered on the outcome, making it one of Polymarket’s top draws.

50-50 on Kalshi

Interestingly, Ocasio-Cortez was tied with Newsom on Kalshi at 17%.

Ocasio-Cortez, the youngest woman ever elected to Congress, signaled earlier in May that she was not ruling out a 2028 presidential bid while emphasizing that her political goals extended beyond seeking higher office.

Disclaimer: Kalshi and Benzinga have an existing data collaboration agreement.