Polymarket bets 39% chance that Biden drops out of 2024 election
Quick Take
- The odds that Biden would drop out of the upcoming election reached 39% on the online prediction market platform.
- The price of Biden-themed meme token, Jeo Boden, has fallen 26% in the past 24 hours.
The odds that U.S. President Joe Biden would drop out of the upcoming presidential election reached 39% on the decentralized prediction market platform Polymarket.
The “yes” bet soared to its highest-ever today following the presidential debate between Biden and Trump last night. Polymarket’s “Biden drops out of presidential race?” has attracted nearly $7.1 million worth of bets from users.
The debate between the presumptive election candidates for the Republican and Democratic Party worsened concerns surrounding Biden’s eligibility to serve another four years as U.S. President, according to a BBC report. During the 90-minute debate, the current U.S. leader raised eyebrows by his performance being “flat” and “unclear,” BBC said.
Last night’s debate also led the Democratic Party to consider Biden’s performance as a “liability,” a report from The Guardian said, while it stated that replacing Biden would be “very unlikely.”
In another Polymarket bet on the winner of the 2024 presidential election, with over $190 million being wagered, 63% predicted that Trump would win, while 21% bet on Biden’s victory.
Meanwhile, the price of Jeo Boden, the meme token themed after the U.S. President, has fallen 26% in the past 24 hours, according to CoinGecko. Other politics-themed tokens including those named after Trump, have also dipped during that time frame.
The next U.S. presidential election is scheduled to take place on Nov. 5, 2024.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.