Trump's odds on prediction markets surge above 90% as election results tilt his way

11/07/2024 05:34
Trump's odds on prediction markets surge above 90% as election results tilt his way

Polymarket showed Trump's chances had shot up to 97% Tuesday evening, and Kalshi gave him 93% odds.

Betting markets took a sharp turn toward Donald Trump on Tuesday night as the first states were called in the presidential election.

So far, reliably Republican and Democratic states have fallen into Donald Trump’s and Kamala Harris’s columns. But North Carolina became the first of the top swing states to be called for Trump, and Georgia is likely to go his way too.

According to Kalshi, Trump’s odds of winning jumped to 93% from 57% at the start of the day. On PredictIt, a contract for Trump winning the election leapt to 95 cents from 54 cents on Monday. On the IBKR Forecast Trader from Interactive Brokers, Trump’s odds soared to 92% from 59% at the start of the day.

Polymarket, a crypto-based prediction market, showed Trump’s chances had shot up to 97% Tuesday evening from 62% early in the morning.

Meanwhile, financial markets have also started to price in a Trump victory, as the dollar, Treasury yields, Bitcoin, and shares of Trump Media and Technology took off in after-hours trading.

The New York Times election tracker gives Trump an 91% chance of victory, and the Washington Post’s forecast says he is slightly favored to win the electoral college.

Last week and over the weekend, prediction markets had shown strong momentum for Harris, who even took the lead briefly on a few exchanges.

Bolstering Harris’s prospects was Saturday’s closely watched Des Moines Register/Mediacom Iowa Poll conducted by Selzer & Co. that showed Harris leading Trump 47% to 44% among likely voters.

Follow the outcomes, understand the impacts. Read all of our U.S. election coverage here.

Read more --->