Polymarket traders raise Biden’s dropout odds to 80% after a New York Times report, up from 55% earlier.
In the earlier part of the day, it had only been 55%.
Following a story in the New York Times about President Joe Biden considering his options in the 2024 election, traders on Polymarket increased the likelihood that the Democrat will withdraw from the race by almost 80% on Wednesday.
Compared to earlier, that was 55%. The insane surge, which has attracted bets totaling close to $10 million, ends a week of chaos in Polymarket’s “Biden drops out of presidential race?” market. The same topic had a 20% probability before Donald Trump’s debate last week.
Many pundits in Washington have downplayed Biden’s chances of beating Trump in the 2024 election following a poor debate showing that highlighted his advanced age. However, The New York Times now claims that Biden believes his chances of winning are dwindling.
According to an unidentified ally cited by the New York Times, “He knows if he has two more events like that, we’re in a different place” with Biden.
An official from the White House stated on X that the New York Times report is untrue.