Following a New York Times report, Polymarket odds of President Joe Biden dropping out of the 2024 race surged to nearly 80%, up from 55% earlier in the day.
In a dramatic shift, the odds of President Joe Biden dropping out of the 2024 presidential race have surged to nearly 80% on Polymarket. This spike follows a New York Times report suggesting Biden is contemplating his future in the race after a challenging debate performance.
Key Points:
Polymarket Odds Surge:
The odds of Biden dropping out hit nearly 80% after the New York Times report.
Earlier in the day, the odds were at 55%, significantly increasing.
New York Times Report:
The report indicates Biden is reconsidering his 2024 candidacy.
An unnamed ally said Biden's window to improve his prospects is narrowing.
Debate Performance Impact:
Biden’s faltering performance in the recent debate with Trump has raised concerns.
Washington analysts doubt Biden’s ability to win against Trump in the 2024 election.
Market Activity:
The Polymarket question “Biden drops out of the presidential race?” has seen $10 million in bets.
Prior to the debate, the odds of Biden dropping out were at 20%.
Official Response:
A White House spokesperson on X refuted the New York Times story, calling it false.
The New York Times report has significantly influenced Polymarket traders, leading to a sharp increase in the odds of President Biden dropping out of the 2024 race.
While speculation mounts, the White House denies these claims, leaving the political community in suspense.
Source: Coindesk
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