President Biden’s chances of winning a second term in the White House plummeted on Thursday after his poor performance in a debate with former President Donald Trump, according to data from political betting markets.
The 81-year-old president’s reelection chances plummeted by 15 points in the aftermath of the CNN debate, according to betting site PredictIt.org.
siteis a service that allows users to buy stocks based on the chances of a candidate winning the November election. Before the debate, Biden’s stock was listed at 48 cents per share (equivalent to a 48% chance of winning), but after the debate it was just 33 cents per share.
Meanwhile, Trump’s stock price on PredictIt rose to as much as 61 cents a share early in the debate before settling at 58 cents. The 78-year-old Trump has a 53% chance of winning the debate, according to the website’s data.
Another betting site Betting Online – Trump started the debate with a -150 edge, but by the end of the debate that had risen to -175.
According to BetOnline, Biden’s odds, which started as a +130 underdog on debate day, dropped to +300 (or 3/1) after the debate.
The company noted that it also saw a large number of bets on alternative Democratic candidates during the debate.
Follow the latest updates from the Trump vs Biden 2024 debate.
“We continued to bet on Gavin Newsom and Michelle Obama multiple times,” Paul Krishnamurthy, political oddsmaker at BetOnline, said in a statement.
According to BetOnline, California Governor Gavin Newsom’s odds of winning increased from 25/1 before the debate to 7/1 after it, while former First Lady Michelle Obama’s odds of winning jumped from 22/1 to 16/1.
Both Newsom and Obama have repeatedly said they have no intention of running for the White House this election.
