Canadian Prime Minister Justin Trudeau held a press conference on 1/6 to announce his resignation from the Prime Minister position and the Liberal Party leadership. As the most talked-about on-chain gaming platform, Polymarket did not miss this great opportunity to take bets, as many bettors had already predicted that he would announce his resignation on 1/6 before Trudeau's announcement.

Trudeau announces resignation, Finance Minister resigns and Trump tax policy becomes the last straw

Trudeau announced at the press conference that he will resign as the Liberal Party leader, and step down as Prime Minister after a new leader is elected. Recently, with some members of Parliament calling for his resignation, rumors of his possible resignation have been constantly circulating. Trudeau also acknowledged that internal conflicts have made him unable to be the most suitable leader in the next election.

Trudeau's resignation decision came less than a month after Finance Minister and Deputy Prime Minister Chrystia Freeland announced her resignation. Freeland stated that she and Trudeau had differences in their strategies to deal with the threat of then-President-elect Trump to impose tariffs on Canada. Observers believe that this series of political events has put a lot of pressure on Trudeau, and has become one of the key factors in his eventual decision to resign.

After learning of Trudeau's resignation, then-President-elect Trump immediately posted on his social media platform TruthSocial, stating: "Many Canadians want to become the 51st state of the United States, and we can no longer afford the massive trade deficit and subsidies between the United States and Canada."

Trump hinted that Canada needs US economic aid to maintain its operations, and Trudeau's resignation is because he himself knows that Canada's economic situation is not good and cannot solve these problems. "A merger between the US and Canada would form a great country that can jointly resist threats from Russia and China," Trump emphasized in the end.

Truck driver protests and crypto policy turmoil in 2022

Previously, Trudeau's handling of the truck driver protest incident in 2022 also sparked dissatisfaction in the local crypto community. At the time, protesters were unhappy with the blockade of streets in Ottawa due to the new COVID-19 prevention policies, and Trudeau immediately invoked the Emergencies Act, freezing the bank accounts of the protesters and monitoring "large or suspicious transactions", including those involving crypto assets. This move has drawn a lot of criticism, with many critics believing that this policy is too harsh and has harmed civil liberties.

Trudeau's resignation was predicted early by Polymarket, related betting markets are booming

Even before Trudeau's press conference, the on-chain gaming platform Polymarket had already opened a hot betting market on his resignation, with many bettors betting that he would announce his resignation on 1/6 with a probability of over 80%.

In addition, Polymarket has also launched a betting market on the next Canadian Prime Minister. As of now, Conservative Party leader Pierre Poilievre is considered the most likely successor, with a probability of nearly 90%. As for former Deputy Prime Minister and Finance Minister Chrystia Freeland, her chance of taking office is only 5%.

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