Matt Gaetz To Be Confirmed As Attorney General In A Trump Administration? Not So Fast, Polymarket Traders Say

Polymarket predictions reveal significant doubt over whether Matt Gaetz will be confirmed as Attorney General in a Trump administration, with current betting odds showing only a 28% chance of approval.

What Happened: The chances of confirmation have been oscillating between 25% and 30%, according to Polymarket traders.

The unconventional nomination has sparked widespread commentary, with former Speaker Kevin McCarthy (R-Calif.) casting doubts on Gaetz's chances.

McCarthy, a long-time Trump ally, remarked in an interview with Bloomberg that "Gaetz won't get confirmed. Everybody knows that," suggesting that Gaetz lacks strong support among Senate Republicans due to his divisive history within the party.

McCarthy's own relationship with Gaetz has been tumultuous, particularly after Gaetz led the charge to oust him as speaker of the House

Gaetz, known for his libertarian views and advocacy for cryptocurrency, has introduced radical proposals, including a bill to allow federal income taxes to be paid in Bitcoin.

His potential nomination as Attorney General is part of Trump's promise to overhaul the Justice Department and address what he calls the "weaponization" of government institutions.

Trump publicly praised Gaetz on his Truth Social account, stating, "Matt will end Weaponized Government, Protect our Borders, dismantle Criminal Organizations, and restore Americans' badly-shattered Faith and Confidence in the Justice Department."

Also Read: Solana, Ripple, Litecoin ETFs May Be On The Table Under Trump Administration, Industry Experts Say

Gaetz's path to confirmation is complicated by ongoing controversies. The House Ethics Committee is investigating him for allegations of sexual misconduct, drug use, and other claims, though Gaetz has consistently denied any wrongdoing.

The Department of Justice previously investigated him for sex trafficking but decided against pressing charges last year.

For many Senate Republicans, these unresolved issues could prove insurmountable during the confirmation process .

Adding to his profile, Gaetz has also pushed for legislation to dismantle the Federal Reserve and legalize marijuana.

His pro-crypto stance aligns with Trump's campaign promise to make the U.S. the "Bitcoin superpower of the world," a stance that has fueled excitement within the crypto community.

What’s Next: Gaetz's involvement in crypto and his support for innovative financial policies make his nomination particularly relevant as investors await Benzinga’s Future of Digital Assets event on Nov. 19.

Read Next:

• Bitcoin Hacker Sentenced To 5 Years For Laundering Billions In Crypto Theft

Image: Shutterstock

Read more...