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Betting Markets See Trump Favoured To Take GOP 2024 Presidential Nomination

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Betting markets, reflecting a shifting sentiment around the 2024 presidential race, are showing an uptick in former President Donald Trump's chances of taking the Republican presidential nomination.

  • Support for Donald Trump cratered after a poor performance at the midterm elections. The rejection of Trump-backed midterm candidates and Trump's mounting legal troubles shifted focus to Florida Governor Ron DeSantis (R-FL), seen by many as a more electable version of "Trumpism."
  • This month's controversy surrounding President Biden's improper storage of classified government documents has compelled a re-evaluation of Trump chances, with many observers arguing that Biden's controversy has dulled many of arguments against Trump's candidacy.
  • Today, Trump is the bookmakers favourite for the first time since the day of the Midterm Elections.

Chart 1: 2024 Republican Presidential Nominee (Smarkets)

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Betting markets, reflecting a shifting sentiment around the 2024 presidential race, are showing an uptick in former President Donald Trump's chances of taking the Republican presidential nomination.

  • Support for Donald Trump cratered after a poor performance at the midterm elections. The rejection of Trump-backed midterm candidates and Trump's mounting legal troubles shifted focus to Florida Governor Ron DeSantis (R-FL), seen by many as a more electable version of "Trumpism."
  • This month's controversy surrounding President Biden's improper storage of classified government documents has compelled a re-evaluation of Trump chances, with many observers arguing that Biden's controversy has dulled many of arguments against Trump's candidacy.
  • Today, Trump is the bookmakers favourite for the first time since the day of the Midterm Elections.

Chart 1: 2024 Republican Presidential Nominee (Smarkets)