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Kenny Dillingham from Arizona State is becoming the top choice for Michigan’s coaching role.

Kenny Dillingham from Arizona State is becoming the top choice for Michigan's coaching role.

A new contender has emerged for the head coaching position at the University of Michigan. Currently, Kenny Dillingham from Arizona State University has a 40% chance of landing the role, based on predictions from Calci, a financial trading and prediction platform based in New York.

Just hours after Sherrone Moore’s unexpected dismissal, Alabama’s Karen DeBoer was initially seen as a frontrunner. However, her odds have since decreased to 22%, making her the runner-up in this context.

It appears to be shaping up as a three-way competition, with Washington’s head coach, Jed Fisch, holding the third-best odds at 20%.

As of Saturday, the prediction market has seen over $3.5 million in trading activity, merely two days after its launch.

Dillingham has an overall record of 22-16 during his three seasons at Arizona State.

This past season, he was awarded the Big 12 Coach of the Year after leading the Sun Devils to an 11-3 record, which earned them a seventh-place finish in the final Associated Press poll.

This season, the Sun Devils are 8-4 under Dillingham, and they are set to take on Duke in the Sun Bowl on New Year’s Eve.

Michigan has been in search of a new coach following the firing of Moore on Wednesday due to allegations concerning an “inappropriate relationship with a staff member.”

Moore was recently charged with felony burglary and two misdemeanor counts related to stalking and trespassing after reportedly breaking into the apartment of executive assistant Paige Shiver.

Biff Poggi has been appointed as the interim head coach for the Wolverines.

Meanwhile, Michigan State is preparing to compete against Texas State in the Cheez-It Citrus Bowl on New Year’s Eve.

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