Increasing Odds of Biden Dropping Out of Presidential Race on Polymarket

By: Eva Baxter

Increased Speculation on Biden's Presidential Campaign

According to the crypto prediction platform Polymarket, there is growing speculation about President Biden's potential withdrawal from the presidential race. Based on recent betting trends, there is now a 55% chance that President Biden may drop out, a significant rise from the previous 19% before the first presidential debate on June 27.

The odds further surged to 63% by July 3, although they have slightly decreased to the current 55%. This increase reflects heightened uncertainty and increased speculation about potential changes in the Democratic nomination.

Tightening Race Between Biden and Harris

Polymarket's data also suggest a narrowing gap between President Biden and Vice President Kamala Harris. President Biden's chances of winning the election have dipped to 15%, while Harris’s have increased to 14%. This shift further supports the idea of a potentially volatile Democratic race, driven by internal speculations and external pressures including voter sentiment and campaign dynamics.

As the Democratic convention approaches, the scenario remains uncertain. Investors and political analysts will be keeping a close eye on any developments that might substantiate these odds or shift the predictions in unexpected ways. The evolving scenarios underscore the unpredictable nature of the upcoming elections.