What happened?
Polymarket bettors now give Zohran Mamdani a 93% chance of winning the New York City mayoral race, while Andrew Cuomo is at 6% and Curtis Sliwa at 1%. Cuomo has responded by pitching a crypto-friendly plan — proposing a chief innovation officer and an innovation council focused on crypto, AI, and biotech. Polling from AARP and Gotham still shows Mamdani leading in traditional polls, so the race looks tilted in his favor despite Cuomo’s late push.
Who does this affect?
Voters in New York City are directly affected because the next mayor will shape local policy and priorities for tech and finance. The crypto, AI, and biotech industries are watching closely since Cuomo’s pitch could mean more local support and resources if he were to win. Prediction market users and investors also care because platform prices and public sentiment can shift funding, hiring, and regulatory expectations.
Why does this matter?
This matters for markets because a Cuomo win and a pro-crypto city office could boost investor confidence in New York’s crypto ecosystem, potentially lifting local startups, hiring, and venture interest. If Mamdani stays likely to win, investors may expect continued uncertainty or different policy priorities, which could dampen crypto-focused bets on New York’s competitiveness. And because Polymarket and polls signal retail sentiment, shifts there can affect short-term trading, fundraising narratives, and where companies decide to locate or expand.