Betting platforms Polymarket and Kalshi have seen odds soar after hints that President Donald Trump might pardon Ross Ulbricht, the notorious Silk Road founder, early in his second term. According to Polymarket, the odds have surged dramatically following a comment from Elon Musk on X, stating unequivocally, “Ross will be freed too.” This statement catapulted Ulbricht’s pardon probability from a modest 54% to a staggering 95% within hours, with betting volumes on his clemency reaching over $51,000.
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The Long Road to Freedom
Ross Ulbricht’s saga has captivated and divided public opinion since his 2013 arrest. The founder of the darknet marketplace Silk Road was sentenced in 2015 to life without parole, sparking debates over the fairness of his punishment. A lifeline seemed to appear in 2024 when Trump, at the Libertarian Party’s National Convention, promised to commute Ulbricht’s sentence if reelected. “If you vote for me, on day one, I will commute the sentence of Ross Ulbricht to a sentence of time served,” Trump declared, echoing sentiments he shared at the 2024 Bitcoin conference.
Despite these bold promises, Trump’s first day in office passed without any official action, leaving supporters hanging but hopeful. Meanwhile, a petition on freeross.org has gathered over 600,000 signatures, emphasizing the perceived excessiveness of Ulbricht’s life sentence and championing his cause as a figurehead of libertarian values.
The Crypto Community Clings onto Hope
As the week progresses, all eyes remain on Trump, wondering if he will fulfill his pledge or if Ulbricht’s fate will continue to hang in the balance. The crypto community, particularly those who revere Bitcoin’s libertarian ethos, sees Ulbricht’s release not only as a triumph of justice but as a potential boost for cryptocurrency’s mainstream acceptance.
At the time of writing, Bitcoin is sitting at $103,483.00.
