The announcement that Joe Biden will not run for reelection has sent shockwaves through the political landscape. Almost immediately, the focus shifted to a potential race between former President Donald Trump and Vice President Kamala Harris. Betting markets have reflected this shift, with Harris’s odds of winning the presidency skyrocketing. She now trails Trump by an increasingly narrow margin.
Before the debate in Atlanta on June 27, which sparked speculation about Biden’s decision, Harris had less than a 2% chance of winning the presidency, according to ElectionBettingOdds. On the morning of the debate, Biden’s odds were nearly 36%, a figure Harris has now surpassed, reaching 37% as of July 23. On the same day, Trump’s odds, which peaked at 68.5% on July 16 (three days after an assassination attempt), fell below 60% for the first time in weeks.
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Harris’s chances have increased by approximately 4-5% in the past day, a trend that could continue as the markets stabilize. Over the past week, Harris has experienced a significant surge, with her odds rising from 7% to 37%, while Trump’s odds have dropped by nearly 8%.
Despite the narrowing gap, former President Trump remains the frontrunner. However, the difference in their odds is diminishing daily.
Michael Brauner is a Senior Sports Analyst and Contributing Writer for Yellowhammer News. You can follow him on Twitter @MBraunerWNSP and hear him every weekday morning from 6 to 9 a.m. on “The Opening Kickoff” on WNSP-FM 105.5, available free online.
