Chicago, Illinois – Betting markets reacted dramatically following the CNN Presidential Debate as President Biden’s chances of reelection plummeted and former President Trump saw a surge in his odds.
PredictIt.org, an election betting website, showed a significant drop in shares predicting Biden’s victory after his lackluster debate performance. Prior to the debate, Biden’s shares were trading at 48 cents but dropped as low as 29 cents before recovering slightly to 30 cents. On the other hand, Trump’s shares rose from 53 cents to 61 cents during and after the debate.
Online sportsbook BetUS had to suspend their presidential election betting market temporarily to adjust odds following the debate. Ted Williams, the director of public relations for BetUS, expects to see Trump’s odds tighten and Biden’s widen post-debate.
Election Betting Odds, another website that aggregates live odds from various markets, shows Trump’s chances of winning at 59.7% and Biden’s at a mere 21.2%, marking a significant drop for the Democratic incumbent.
As Biden faces criticism from Democratic officials and media figures for his debate performance, the uncertainty over his candidacy has sparked speculation about potential alternative Democratic candidates, including California Gov. Gavin Newsom and Vice President Kamala Harris.
Claire McCaskill, former Democratic senator, expressed doubts about Biden’s ability to show his fitness for the presidency, igniting discussions about the possibility of a replacement candidate within the party. The coming weeks leading up to the Democratic National Convention in Chicago will likely shed more light on the future of Biden’s candidacy.
The fluctuating odds in betting markets reflect the uncertainty surrounding Biden’s future in the race, with alternatives like Newsom and Harris showing a rise in their chances of winning the Democratic nomination.
In conclusion, the aftermath of the CNN Presidential Debate has sent shockwaves through election betting markets, indicating a significant shift in perceptions of the candidates and raising questions about the future of the race.
