Cryptocurrency bettors expect Rep. Ro Khanna (D-Calif.) to be the first Democrat to announce a presidential run after he said he's “strongly considering” a bid.

Khanna To Announce Candidacy Soon?

Polygon-based Polymarket currently assigns a 15% chance that Khanna would be the first to “publicly and unambiguously” announce their candidacy in the 2028 presidential election, the highest, followed by California governor Gavin Newsom at 14%.

Meanwhile, bettors on Kalshi priced in a 78% chance that Khanna would throw his hat in the ring, up from 72% a week ago.

Khanna Says He's 'More Resolved' After Israel Trip

The odds shape as Khanna confirmed that he's “strongly considering” the run, according to a Reuters report. The Philadelphia-born lawmaker added he's “more resolved” to consider it following a trip to Israel, where he alleged that Israeli settlers and IDF forces unlawfully detained him and other U.S. citizens.

Israeli Prime Minister Benjamin Netanyahu defended his government's handling of law enforcement, saying authorities investigate and prosecute those who break the law.

A Fierce Trump Critic

Khanna has been a vocal critic of President Donald Trump, frequently citing his policies as detrimental to the global credibility of the U.S., international partnerships and domestic innovation. He has particularly questioned U.S. military action against Iran, deeming the strikes a violation of the War Powers Resolution.

Khanna has also questioned the Trump family's cryptocurrency ventures. He launched an investigation earlier this year into a $500 million investment by Abu Dhabi's ruling family in World Liberty Financial, a company founded by Trump's sons.