OAN Staff James Myers
3:14 PM – Thursday, October 17, 2024
2024 Presidential Election Betting Market Swings Towards $45th President Donald Trump. Offshore bettors continue to increase the odds as they expect Trump to win in battleground states.
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On Thursday, there was a 61% chance that Trump would take back the White House. PolymarketIt is the first cryptocurrency trading platform to launch since President Joe Biden withdrew from the campaign. Betfair Exchange, the UK's largest peer-to-peer betting platform, predicted Mr Trump was likely to win as of Thursday morning.
Polymarket said in its weekly Oracle newsletter on Tuesday that big differences in betting markets are not the same as big differences in opinion polls.
“While Mr. Trump's lead is the largest since the summer, it is important not to overstate its significance. A 55-45 prediction market advantage is not as strong as a 5-point poll lead,” the newsletter said. Ta. “Small movements in the polls can lead to big changes in the odds.”
Meanwhile, President Trump's social media company Truth Social saw its stock price rise 93% after gaining a favorable position in the betting market on October 4th.th. As of Wednesday, the stock was up about 16%, trading at $31.26 per share.
According to , the betting favorite has only lost twice since 1866. conversationa nonprofit news organization.
In 2016, then-Secretary of State Hillary Clinton had an advantage over Trump throughout the campaign, but in 1948, Democrat Harry Truman defeated Republican Thomas Dewey against huge odds of 8-1.
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