The FX168 Financial News Agency (Asia-Pacific) reports that Canadian Prime Minister Trudeau announced his resignation, but will temporarily hold the position until a successor is found. Data from the large cryptocurrency betting platform Polymarket shows that Pierre Poilievre, the leader of the Conservative Party in Canada, has become the frontrunner for leadership with a winning probability as high as 89%. He is an advocate of Bitcoin and holds a tough stance on immigration issues, indicating that Canadian policy may undergo drastic changes.

Data from the Polymarket platform shows that Poilievre's winning probability is 89%, slightly lower than the previous 92%. His closest competitors—Chrystia Freeland and Jagmeet Singh—have winning probabilities of only 5% and 2%, respectively, trailing by a significant margin.

(Source: Polymarket)

Meanwhile, the odds on the U.S. betting platform Kalshi paint a completely different picture, with Freeland leading at a probability of 45%, followed closely by Mark Carney at 25%, while Poilievre's winning probability is much lower at 16%.

Trudeau announced that once a successor is elected, he will resign as leader of the Liberal Party and subsequently step down as Prime Minister. Interestingly, the bets on the Polymarket platform accurately predicted Trudeau's resignation earlier this week.

(Source: Bloomberg)

Priliyev's strong support for Cryptos has earned him a loyal following in the Canadian Blockchain Community. As a supporter of XINXINGCHANYE, he has consistently backed the C-400 bill, opposing the idea of Central Bank Digital Currency (CBDC).

His vision for Canada also includes transforming the country into a leading Blockchain center and leveraging Bitcoin to address economic challenges such as inflation.

Moreover, his connections with Cryptos further enhance his credibility in the field.

In 2022, it was reported that Priliyev invested in the Purpose Bitcoin, a Canadian Exchange-traded Fund focused on Cryptos.

Although it is currently unclear whether he retains these Assets, his past record reflects a commitment to integrating Digital Assets into the country's financial landscape.

Notably, Ken Sim, the Chinese Canadian mayor of Vancouver in British Columbia, also holds a friendly position towards Bitcoin, which plays a key role in Canada following the Cryptocurrency steps of the newly elected US president Donald Trump.

Since entering Parliament in 2004, Poliyev has advocated for policies emphasizing a smaller government, economic independence, and personal freedom. In an interview, he stated that his campaign goal for the next election is: "Eliminating taxes, building houses, correcting budgets, and stopping crime."

This approach resonates with Canadians seeking alternatives to the current government, who criticize the present Canadian government for bringing them economic hardships.

Poliev's sharp criticism of Trudeau's immigration policy and his commitment to reforming Canada's immigration system have become the core of his political agenda. In December 2024, Poliev clearly stated his position, telling reporters, "The radical, out-of-control New Democrat-Liberal government has destroyed our system, and Canada must reduce population growth."

(Source: TOI)

He expressed frustration over Trudeau's mishandling of immigration issues, stating that under the current government's leadership, "immigration is not even a controversial issue" until Trudeau took office.

Poliev further pointed out that the surge of international students and low-paid temporary foreign workers is undermining what he calls the "multigenerational consensus," that immigration is a positive force for the country. "We must reduce the rate of population growth," he emphasized, calling for a complete overhaul of immigration policy.

The Conservative leader proposed that a future Conservative government would link population growth with housing, Medical Care, and job opportunities. "We will tie the number of people entering this country to the number of housing units, the amount of Medical Care, and job opportunities," he said. The plan proposed by Poliev would limit immigration rates and ensure that immigration does not exceed the country's capacity to accommodate new immigrants.

He also vowed to address the issues of abuse within the temporary foreign workers and international students programs, promising that his government would "prevent temporary foreign workers from taking jobs away from Canadians."

Poliev specifically criticized Trudeau's handling of the Temporary Foreign Worker (TFW) program, arguing that the program has been undermined by lax regulations. He added that the government's decision to lift restrictions on foreign workers in low unemployment sectors has caused lasting damage. "The Canadian government has destroyed the TFW program," Poliev said. "I will keep the program for the agriculture sector, but I want to prevent temporary foreign workers from taking jobs away from Canadians."