Vice President Kamala Harris has overtaken President Joe Biden as the favorite to win the Democratic presidential nomination in a major betting market. According to PredictIt, a political wagering website, Harris’ shares surged to $0.52, while Biden’s plummeted to $0.30, following a report from The New York Times that Biden is considering dropping out of the race.

The odds shift occurred rapidly, with Harris’ shares jumping from $0.40 to $0.52 in a matter of minutes. This sudden change in odds reflects a significant loss of confidence in Biden’s ability to win the nomination and the general election.

ElectionBettingOdds, a site that tracks odds across multiple betting markets, shows Biden with a 14.9% chance of winning reelection, making him a 6-1 underdog against Trump. Harris fares slightly worse, with a 14.2% chance of winning the general election. Trump, on the other hand, is favored to win with a 58.2% chance.

Biden has been leading the Democratic field for months in the betting markets; However, his campaign has faced numerous challenges, and this latest report has seemingly spooked bettors, leading to a massive shift in odds in favor of Harris.

It’s important to note that betting markets are not always predictive of political outcomes, but they can provide valuable insights into public perception and sentiment. In this case, the sudden shift in odds suggests a growing lack of confidence in Biden’s candidacy and a rising possibility of Harris becoming the Democratic nominee.

(YWN World Headquarters – NYC)