Joe Biden's election probability is decreasing: Critical signal for crypto!

On decentralized crypto prediction platform Polymarket, US President Joe Biden's re-election probability has dropped to 9 percent. Bettors are speculating on whether Vice President Kamala Harris will replace Biden as the Democratic Party nominee.

Biden's odds have briefly rebounded since then and are now at 10 percent of Polymarket's $226 million "2024 Presidential Election Winner" market. While former President and Republican Party candidate Donald Trump is shown as the favorite with 61 percent, Harris comes in second with 19 percent.

Stock prices, reflecting Biden's odds on the prediction platform PredictIt, similarly fell from $0.25 to $0.20. Harris is now the leading Democratic candidate – but Trump still holds the highest-valued “Yes” shares at $0.58.

This development comes as concerns from the media and outside commentators grow that he may not be eligible for a second term.

According to CNN, the President reportedly alarmed several US governors during a meeting at the White House on July 3, jokingly saying, "I'm fine, but I don't know anything about my brain."

In the same news, it is stated that Biden said that he will no longer plan events after 20:00 in order to get more sleep.

Biden did himself no favors when, in a radio interview the next day, he mistakenly described herself as the “first black woman” to serve as President of the United States. It's a clip that has since been circulating on social media.

Polymarket shows that there is a 66% chance that Biden will withdraw before the November 4 US elections, and Harris is the Democratic candidate most likely to compete with Trump. However, Biden emphasized that he did not intend to resign despite increasing pressure.

In his Independence Day speech at the White House on July 4, Biden reportedly said, "I'm not going anywhere."