Biden stock tanks in election betting markets after disaster performance

fox news ^ | June 28, 2024 | Chris Pandolfo

[ding_dong_daddy_from_dumas]

Election bettors had a visceral reaction to the CNN Presidential Debate on Thursday night, with the odds that President Biden will prevail in November taking a nosedive.

PredictIt.org, an election betting website, showed shares predicting that the Democratic incumbent will win re-election dropped 15 points in the aftermath of Biden's widely panned debate performance.

The website allows users to buy shares in a candidate, priced between 1 and 99 cents, which corresponds to the market's estimate of the probability that the candidate will win. Before the debate, the 81-year-old Biden traded at 48 cents per share. But in just one hour, after speaking with a raspy voice and giving rambling answers, his shares traded at 39 cents and bottomed out at 29 cents before rising to 30 cents as of Friday morning.

Former President Trump, the presumptive Republican nominee, led Biden 53 cents to 48 cents prior to the debate, according to PredictIt. His shares shot up to 61 cents as he went back and forth with Biden and are now hovering at 58 cents, translating to a 58% chance of victory.

[ding_dong_daddy_from_dumas]

Last month an article posted on FR claimed that the Biden regime banned "election betting markets." Weird.

Biden Administration Orders Ban on Election Betting Markets

If I held 4 aces in a 5 card poker hand with no wild cards I would think it was almost certain that I would win the hand. But politics is more complex.

[Libloather]

Build Back Brandon.

[Leep]

The reports of biden’s campaign being alive are greatly exaggerated

[The Duke]

I suspect this has more to do with the value of the dollar going up than the value of the stocks going down.

[OrioleFan]

If I held 4 aces in a 5 card poker hand with no wild cards I would think it was almost certain that I would win the hand. But politics is more complex.

Xi sent Biden a pallet of Aces that passed thru the postal center in Bethpage, NY. They were transferred to Biden's garage next to the Vette.

[MIchaelTArchangel]

Let’s how Slow Joe has coattails and takes scores of leftists down to politihell with him.

[Dan in Wichita]

I would have won a lot on money on PredictIt.com in 2020 had the elections in various toss-up states not been tainted. I broke even overall because I recognized before most people the Dems were going to get a Senate majority through Georgia and got out just in time.

Not participating this year.

[ding_dong_daddy_from_dumas]

Betting on politics is risky, but betting on politics with cheating is worse. Mail-ins make cheating easier.