๐๐ POLYMARKET BETS SHOW GROWING CONFIDENCE IN TRUMP'S ELECTION VICTORY OVER BIDEN ๐๐
Ten days after former President Donald Trump was convicted on 34 counts connected to a hush-money scheme, prediction markets on Polymarket indicate growing confidence in his chances of winning the 2024 election. The gap between Trump and incumbent President Joe Biden has widened significantly.
๐ Prediction Market Trends:
Polymarket, powered by Polygon, hosts a wager titled โPresidential Election Winner 2024.โ The betting period concludes on November 5, 2024, and as of June 9, the total bets have reached $155.78 million. Initially, Trump led with a 54% chance compared to Biden's 40%. Over the past week, Trump's odds have risen to 56%, while Bidenโs have dropped to 34%.
๐ Detailed Insights:
This marks the largest gap between the two candidates since the bet was established. Interestingly, Michelle Obamaโs chances have also improved. Although not officially running, her odds have increased from 3% to 6%, reflecting speculation that she might secure the Democratic nomination if Biden steps down. Independent candidate Robert F. Kennedy Jr.โs odds remain steady at 2%.
๐ Conclusion:
The shifting odds on Polymarket reflect changing public sentiment and speculation around the 2024 Presidential election. Trump's increasing lead highlights growing confidence among bettors in his potential victory over Biden.
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