Since a shocking story from The New York Times, people betting on Polymarket have put a lot more money on the idea that Vice President Joe Biden will drop out of the race for president.
At first, the odds for Biden’s withdrawal were around 55% early Wednesday morning. But after insiders said that Biden was thinking about his political future, these chances shot up to over 70%.
As reported by The New York Times, sources close to Biden say that the President has voiced doubts about his ability to beat Donald Trump in the upcoming election. Andrew Bates, a spokesman for the White House, quickly denied the claims, calling the story false and emphasizing how little time was given for them to respond.
“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,” Bates tweeted in response to the article.
Biden’s Future Speculated Amidst Health Concerns
The speculation surrounding Biden’s candidacy has been fueled by ongoing concerns about his health, compounded by recent events such as the CNN debate, which analysts from across the political spectrum have deemed a setback for the President.
The Times report noted a sentiment within Biden’s camp that his electoral prospects could hinge significantly on upcoming events.”He knows if he has two more events like that, we’re in a different place,” the report cited from a source familiar with Biden’s thinking.
Polymarket, known for its decentralized platform allowing users to bet on real-world outcomes, has seen over $10 million in wagers placed on Biden’s political future amid this uncertainty. The platform previously garnered attention during the Bitcoin (BTC) ETF deliberations and continues to attract interest with bets on other significant events, including approvals for spot Ethereum (ETH) funds.
