Traders on the crypto betting platform Polymarket are giving President Joe Biden about a four in 10 odds that he won’t finish his term.
The latest data from Polymarket shows that there is a 61% chance that Biden will hold on to his presidency until the completion of his term on January 20th, 2025.
Says Polymarket,
“If he’s not fit for reelection, is he fit for office right now?”
Polymarket lays out the rules for the Biden presidency bet.
“This market will resolve to ‘Yes’ if Joe Biden successfully finishes his term as President of the United States of America without any interruptions. Otherwise, this market will resolve to ‘No’.”
At time of writing, the market has accumulated more than $3.625 million in bets.
Biden’s chances on Polymarket abruptly dropped in the last few days after he announced that he was quitting the 2024 race for the White House. The president also said that he was endorsing Vice President Kamala Harris as his replacement for the November election.
Polymarket is currently giving Harris a 31% chance of winning the presidential election. Meanwhile, the crypto betting platform sees odds of 64% that Donald Trump will serve his second term as president of the country.
More than $331 million worth of bets have been placed on Polymarket for the 2024 presidential election winner.
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