Donald Trump

Biden

Joe Biden

After a New York Times report, Polymarket odds of President Joe Biden dropping out of the elections skyrocketed to over 70%.
Early on Wednesday, <a href="https://crypto.news/?s=polymarket" target="_blank" rel="noopener noreferrer nofollow">Polymarket</a> bettors placed wages on a 55% chance that Joe Biden would step down from the presidential race. Those odds massively improved following a report that Biden was mulling his future in the White House post-November.
According to an unnamed member of Biden’s camp <a href="https://www.nytimes.com/2024/07/03/us/politics/biden-withdraw-election-debate.html" target="_blank" rel="noopener noreferrer nofollow">cited</a> by the New York Times, the U.S. President sees beating Donald Trump on the ballot as an unlikely outcome. Shortly after, White House spokesperson <a href="https://x.com/AndrewJBates46/status/1808515890004050293" target="_blank" rel="noopener noreferrer nofollow">Andrew Bates</a> claimed the story was untrue on X.&nbsp;
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 That claim is absolutely false. If the New York Times had provided us with more than 7 minutes to comment we would have told them so. <a href="https://t.co/SRTYIVTy7v" target="_blank" rel="noopener noreferrer nofollow">https://t.co/SRTYIVTy7v</a>— Andrew Bates (@AndrewJBates46) <a href="https://twitter.com/AndrewJBates46/status/1808515890004050293?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 3, 2024</a>
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Biden’s health has been questioned several times, contributing to the momentum of Polymarket’s “Biden drops out of presidential race?” pool. So far, punters have piled over $10 million worth of bets on Biden’s future.&nbsp;
Before the CNN debate which many experts from both sides of the political spectrum agree was a disaster for Biden, betting activity implied a 20% to 35% chance he would leave the race.
“He knows if he has two more events like that, we’re in a different place,” the New York Times report said.
Polymarket has emerged as a premier decentralized betting platform for users to wager on real-life outcomes. Similar bets were noticed during the spot Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>) ETF saga, and markets currently exist for other events, such as approvals for spot Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noopener noreferrer nofollow">ETH</a>) funds.&nbsp;
Read more: <a href="https://crypto.news/polymarket-peter-thiel-vc-firm/" rel="noopener noreferrer nofollow"> Polymarket raises $70m backed by Peter Thiel’s VC firm </a>

Polymarket punters pile bets on Biden’s dropout

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