In a phone call with Fox News, President Donald Trump claimed he is "seriously considering” making Venezuela the 51st U.S. State due to its oil deposits and because "Venezuela loves Trump."
The report caused a noticeable bump on the Kalshi market for the territory or country that will become the 51st state during President Trump's term. Venezuela's price jumped to 4.5%, while markets also moved higher for Puerto Rico to 6.9%, Canada to 5%, and Greenland to 4.5%.
‘Venezuela loves Trump’
This isn't the first time Trump has floated the idea. The Washington Post reported that the president raised similar sentiments at a black-tie dinner at the Alfalfa Club in Washington in February.
He jokingly told the crowd: "We're not going to invade Greenland. We're going to buy it. It's never been my intention to make Greenland the 51st state. I want to make Canada the 51st state. Greenland will be the 52nd state. Venezuela can be 53rd."
Will Trump visit Venezuela?
Despite the rhetoric, traders are clearly skeptical of the idea of Venezuelan statehood.
They are also skeptical of a presidential visit to Venezuela this year. The country sits at just 10% on the market tracking President Trump's travel plans, down 3 points.
The takeaway:
Kalshi markets now predict:
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This article may contain content generated with the assistance of artificial intelligence. The opinions and perspectives presented in this article belong solely to the author. This is not financial advice. Trading on Kalshi involves risk and may not be appropriate for all. Members risk losing their cost to enter any transaction, including fees. You should carefully consider whether trading on Kalshi is appropriate for you in light of your investment experience and financial resources. Any trading decisions you make are solely your responsibility and at your own risk. Information is provided for convenience only on an "AS IS" basis. Past performance is not necessarily indicative of future results. Kalshi is subject to U.S. regulatory oversight by the CFTC.
