Crypto Bettors Drive Up Odds of Biden Dropping Out After COVID Diagnosis
Crypto bettors on decentralized blockchain betting site Polymarket have driven up the odds of President Joe Biden dropping out of the re-election race following revelations that he tested positive for COVID-19. Bettors now see a 66% chance of him bowing out, nearing the odds reflected one week ago when several allies signaled it was time for him to step aside.
President Biden’s COVID Diagnosis
- Biden tested positive for COVID while traveling in Las Vegas, where he was set to speak at the National Convention for UnidosUS.
- The White House announced that he would recover at his home in Delaware and continue to carry out all of his duties.
- The revelation came hours after Biden said in an interview that he would consider dropping out if faced with a medical condition.
Odds and Predictions
- The odds of Biden dropping out of the race have increased, with more than $16.4 million riding on the wager on Polymarket.
- Crypto bettors now favor former President Donald Trump to win the U.S. presidential election in November, with a 69% chance.
- Vice President Kamala Harris has returned to second place in the wager following Biden’s COVID diagnosis.
Hot Take: Will Biden’s COVID Diagnosis Impact the 2024 Election?
As crypto bettors speculate on the outcome of the 2024 U.S. presidential election, President Biden’s COVID diagnosis has created new odds and predictions that could shift the political landscape. With significant amounts of money riding on these wagers, the impact of Biden’s health on the election remains uncertain.
Source: Polymarket
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