US Elections Weekly Updates

Published on 2024-10-20

Elon Musk Pledges $1 Million Per Day to Support Trump Through Petition Drive

In a bold move to bolster Donald Trump's 2024 presidential campaign, Tesla CEO Elon Musk has pledged to pay up to $1 million daily to Pennsylvania voters who sign his America PAC petition. The petition, advocating for free speech and gun rights, was launched during Musk's rally in the Keystone State, where he criticized mainstream media for not covering the initiative. Musk selected an audience member as the first million-dollar recipient, asking them to serve as a spokesperson for the petition. Democrats are increasingly concerned about the "Musk effect" and his influence on key voter demographics, particularly where they have historically struggled. Musk has already contributed $75 million to Trump’s re-election campaign, further amplifying his political involvement.

International Traders Bet $30 Million on Trump in 2024 Election on Polymarket

Four accounts on the prediction platform Polymarket, which placed large bets on former President Donald Trump winning the 2024 election, are owned by non-Americans, according to a source familiar with the matter. These accounts have collectively wagered over $30 million, pushing the odds in Trump's favor to 60%, compared to 40% for Vice President Kamala Harris. Despite speculation about high-profile Americans being involved, Polymarket prohibits U.S. citizens from betting on elections. The platform is investigating the activity, ensuring compliance with regulations, as a $30 million bet represents about 1% of the total trading volume related to the presidential race. The Commodity Futures Trading Commission has maintained strict restrictions on U.S. election betting, rejecting applications for such contracts in the past.

Harris and Trump Battle for Arab American Votes in Michigan

Kamala Harris and Donald Trump took their campaigns to Michigan on Friday, targeting the state's influential Arab American community in a push to secure critical swing-state votes. Harris, addressing ongoing Middle East conflicts, called for an end to the war in the region, urging that this be a turning point for peace. Trump, meanwhile, avoided specifics on Middle East policy but visited Hamtramck, one of the nation’s few Muslim-majority cities, where he received an endorsement from Mayor Amer Ghalib. Both candidates are making aggressive efforts to engage diverse voting blocs in Michigan, which could prove decisive in the 2024 election.

Big Tech Regulation: National Security vs. Global Expansion

As the 2024 U.S. presidential election approaches, Kamala Harris and Donald Trump present vastly different approaches to regulating Big Tech, a sector with growing influence on both national security and the global economy. Harris has positioned herself as a proponent of stronger regulatory measures, emphasizing concerns around national security, data privacy, and corporate accountability. As Vice President, Harris has supported policies that tackle the risks associated with artificial intelligence (AI), deepfakes, and cybersecurity threats, warning that unchecked technological advancements could endanger public safety. She has advocated for aggressive antitrust enforcement, continuing the Biden administration's stance on curbing monopolistic practices by tech giants like Google and Meta. Her campaign emphasizes the need to protect consumers and prevent Big Tech from exploiting its market dominance to the detriment of competition and national security.

Trump, on the other hand, champions a more business-friendly approach, prioritizing the global expansion of U.S. tech companies over strict regulatory measures. While acknowledging some risks posed by emerging technologies like AI, Trump argues that overregulation could harm American innovation and economic growth. His previous administration was characterized by a more hands-off approach to Big Tech, with Trump expressing support for mergers and acquisitions that would allow U.S. companies to compete on a global stage. He has criticized Harris and the Biden administration for being too focused on regulatory intervention, suggesting that this stifles the U.S.'s ability to compete with global tech rivals like China. Trump's platform emphasizes fewer restrictions on Big Tech, arguing that this would allow companies to thrive internationally, driving economic growth and securing America’s technological dominance on the world stage.

The debate between national security and global expansion will be a key issue as voters weigh these candidates' differing approaches. Harris's policies focus on protecting the public from the risks of unchecked technological power, while Trump promotes economic growth through less regulation. Both candidates recognize the importance of Big Tech, but their visions differ significantly: Harris seeks to ensure that technology operates within strict legal frameworks to safeguard national interests, while Trump sees deregulation as a path to American leadership in the global economy. The outcome of the election could shape the future of Big Tech's role in society, either reining in its power or unleashing its full potential for global expansion.

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