Prediction markets surged in bets on a Fort Knox gold audit after US President Donald Trump confirmed his administration’s plan to carry out the inspection.
During a flight to Washington on February 19, President Trump told reporters he intends to visit the facility to verify the gold reserves, according to the Associated Press. “We’re going to go into Fort Knox to make sure the gold is there”, he said.
This proposal was first promoted by the financial blog ZeroHedge and later backed by Elon Musk and Kentucky Senator Rand Paul.
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Following President Trump’s statement, activity surged on Polymarket, a cryptocurrency-based prediction platform. The odds of the audit happening before May 2025 climbed above 70% at one point. As of the latest data, the probability stood at 51%.
When asked what his administration would do if the audit found missing reserves, President Trump said he expected “everything is fine with Fort Knox”. He did not directly address concerns about why the audit was necessary but added, “If gold isn’t there, we’d be very upset”.
The audit would be the first official review of the gold reserves since 1974. Many in the cryptocurrency community support the effort, arguing that Bitcoin’s
$98,226.89
open and verifiable ledger offers a level of transparency that gold cannot match.
President Trump recently nominated Jonathan Gould to lead the Office of the Comptroller of the Currency (OCC). Who is he? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
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