Trump falls behind Harris in betting market for first time
Traders and oddsmakers now give Kamala Harris better odds than Trump of winning the 2024 presidential election
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Former President Trump is no longer favored to beat Vice President Harris in the 2024 race for the White House, according to major betting markets tracked by FOX Business.
As of Monday morning, Harris surpassed Trump as the odds-on favorite to win the presidency on BetUS with 55% implied probability, marking the first time since the platform opened the market that the Democratic nominee took the lead.
Republican presidential nominee, former U.S. President Donald Trump speaks at a rally at the Brick Breeden Fieldhouse at Montana State University on August 9, 2024 in Bozeman, Montana. (Michael Ciaglo/Getty Images / Getty Images)
Over the weekend, the two presidential contenders had been in a dead heat on the site.
Traders on prediction site PolyMarket also favored Harris on Monday, giving her a 51% chance of winning the race, compared to Trump's 46%. On PredictIt, where Harris has been leading Trump for weeks, bettors give Harris a 59% chance of winning, while Trump's odds fell to 43%.
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"Not only is Harris now leading in the betting odds, but she is also leading in terms of the total number of wagers placed and total dollar volume bet so far, which is an impressive feat considering she only became the official nominee a week ago," BetUS director of public relations, Tim Williams, told FOX Business.
Vice President Kamala Harris addresses the members of the American Federation of Teachers at George R. Brown Convention Center on Thursday, July 25, 2024 in Houston. (Elizabeth Conley/Houston Chronicle via Getty Images / Getty Images)
He added, "I personally wouldn’t have expected so much money to have been bet on Kamala so quickly, but here we are."
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Williams went on to note it would appear that Harris is also attracting larger wagers than Trump, which in the sports betting world is often indicative of "sharp money," meaning more professional bettors.
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Momentum for Harris continues to surge following President Biden's unprecedented decision to withdraw from the race last month.
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A Wednesday poll from NPR, PBS and Marist found that Harris has a 3-point lead over Trump among registered voters, and a Thursday poll from Marquette Law School showed Harris has established a 4-point lead over the former president.
FOX News' Anders Hagstrom contributed to this report.