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
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