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Political betting markets are moving as the documents scandal surrounding President Joe Biden escalates.
After further classified documents were found at Biden’s home, in addition to the appointment of a new Special Prosecutor to investigate, the President’s recent forward moves in the betting markets are being rapidly reversed. Here’s the latest from BetOnline.ag:
2024 Election Odds Movements
RON DESANTIS +175 (PREVIOUSLY +165)
JOE BIDEN +300 (PREVIOUSLY +250)
DONALD TRUMP +500 (PREVIOUSLY +600)
KAMALA HARRIS +1200 (PREVIOUSLY +1400)
GAVIN NEWSOM +1600 (PREVIOUSLY +2000)
GRETCHEN WHITMER +2500 (PREVIOUSLY +4000)
PETE BUTTIGIEG +2800 (PREVIOUSLY +3500)
Democratic Nominee Odds Movements
JOE BIDEN -200 (PREVIOUSLY -300)
KAMALA HARRIS +450 (PREVIOUSLY +550)
GAVIN NEWSOM +700 (PREVIOUSLY +800)
PETE BUTTIGIEG +1200 (PREVIOUSLY +1600)
GRETCHEN WHITMER +1200 (PREVIOUSLY +2000)
Republican Nominee Odds Movements
RON DE SANTIS -120 (PREVIOUSLY -150)
DONALD TRUMP +200 (PREVIOUSLY +230)
“While Biden remains very much the man to beat on the Democrat side, because it is unlikely that any heavyweight challenger would primary him, this scandal must cast doubt on his ability to last the distance,” BetOnline political analyst Paul Krishnamurty said. “Republican committees in the House are guaranteed to investigate these classified documents, in addition to Hunter Biden’s activities, to the deepest possible extent.
“Regardless of whether any legal threat actually materializes, the process seems likely to damage the Biden brand. There is a long way to go before primary season and the chances have definitely risen that Biden – who it is assumed was planning to run – will think again. Also, in expectation of his approval ratings taking a hit, we’ve adjusted our end of month odds accordingly.
“Regarding Donald Trump’s own legal peril for improperly taking classified documents, we’ve seen money across the industry for him since this story broke on Monday night. His odds for both the nomination and presidency have shortened”
BIDEN APPROVAL RATING ON JAN 31 (According to FiveThirtyEight)
45% OR HIGHER +1200
44.0-44.99% +350
43.0- 43.99% +225
42.0- 42.99% +225
41.0- 41.99% +500
40.0- 40.99% +1200
UNDER 40% +2000
