Biden’s re-election chances brush the single digits on Polymarket
The probability of US President Joe Biden being re-elected has dropped to 9 percent on decentralized forecasting platform Polymarket. Pundits speculate that Vice President Kamala Harris will replace Benn as the Democratic nominee.
Biden's odds recovered shortly after, now at 10% of Polymarket's $226 million “winner of the presidential election 2024” market.
Former President and Republican Party nominee Donald Trump is the favorite with 61% odds, while Harris is second with 19% odds.
Shares reflecting Biden's odds fell to $0.20 from $0.25, according to prediction platform PredictIt. Harris is now the leading Democratic candidate — but Trump still holds the highest number of “yes” shares at $0.58.
It is at a time when there are increasing concerns from media and foreign commentators that he may not be eligible for a second term.
According to CNN, the president reportedly worried several US governors during a meeting at the White House on July 3, where he joked, “I'm fine – but I don't know about my mind.”
The same report said Biden will now stop planning events after 8pm to get more sleep.
Biden did himself no favors the next day when he mistakenly described himself as the “first black woman” to serve as US president in a radio interview – a clip that has since gone viral on social media.
Polymarket now shows a 66% chance of Biden dropping out ahead of the Nov. 4 US election, with Harris the most likely Democratic candidate to run against Trump.
Related: Are politicians using crypto to influence US elections?
However, Biden has said he has no intention of resigning despite mounting pressure.
“I'm not going anywhere,” Biden reportedly said during his Independence Day speech at the White House on July 4.
Neither Biden nor Trump mentioned Bitcoin (BTC) or digital asset-related issues during the first presidential debate on June 27.
Trump and Biden are scheduled to face each other again in the final presidential debate on September 10.
Magazine: Opinion: GOP crypto maxis almost as bad as Dems' ‘anti-crypto army'
