Joe Biden had by all accounts a terrible debate night. While Trump performed similarly to his previous engagements, Biden was put on the spot and showed his mental decline compared to even four years ago. The betting markets reflected that. America’s News Desk says:
Following President Joe Biden’s heavily criticized performance during Thursday night’s debate, online betting markets moved substantially in favor of former President Donald Trump defeating Biden in a rematch this autumn.
Before the debate, PredictIt had Trump and Biden in a close race, with Trump winning 53¢ to 48¢ of the bets that were placed. But as soon as the discussion began, Trump shot to a high of 61, while Biden fell to a pitiful 29¢.
During the discussion, Democratic Governor Gavin Newsom of California noticed a significant increase in his stock price on the betting website, rising from just 5¢ to a high of 20¢.
Democrats lack the legal means to prevent Biden from becoming the nominee, thus the chances of them succeeding are extremely slim.
Because he won the primary elections, Biden retains control over the delegates from the nomination process and would still be the party’s nominee even if they were to invoke the 25th Amendment and remove him from office, as some had suggested online after the debate.
According to the New York Post, Trump began the debate as a -150 favorite on BetOnline.ag and moved up to a -175 favorite by the end. After the debate, Biden’s early +130 underdog position drastically dropped to +300 (or 3/1).
As an incumbent, Biden will already have a hard time deflecting his failures during his administration. Adding his mental and physical decline, the betting markets have clearly backed Trump for success.
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