Harris Gains On Trump In Wall St. Betting

U.S. President Joe Biden's weekend withdrawal from the White House race can hardly be seen as a big surprise, but it adds some doubts to market bets that Republican challenger Donald Trump is a shoo-in in November's election, Reuters reported.

Biden’s exit puts Vice President Kamala Harris firmly in the frame, balancing the picture as Trump has clearly been wrong in claiming that Biden would not quit. I Photo: Vice President Kamala Harris Facebook

Tightening odds on the next president may just keep that on the boil as some of the so-called "Trump trades" were pared back marginally on Monday. Biden’s exit puts Vice President Kamala Harris firmly in the frame, balancing the picture as Trump has clearly been wrong in claiming that Biden would not quit.

Already, Trump’s winnability, which was at 70%+ last week following the botched assassination attempt on him, sagged to 60%.

PredictIt betting site puts Harris at about 40%—even though she has not yet got the formal nomination and hasn't campaigned for the role yet. If she does get the nod, there will also be much attention on her choice of running mate.

Late on July 23, 2024, reports had it that Harris has already sewn up the nomination and raised $81 million from small donors in just 24 hours, a feat Trump can hardly duplicate.

Moreover, Democratic governors and hundreds of labor, teacher, worker, and federal employee groups have endorsed Harris, along with Black, Brown, and Native American organizations.

Harris is now being framed as the prosecutor who would put the criminal felon Trump in prison.