As the 2024 U.S. presidential election draws closer, former President Donald Trump has opened up a substantial lead over Vice President Kamala Harris, according to prediction market traders. What Happened: Polymarket shows Trump with a 61.

The huge buy is further proof that predictive betting sites are only a reflection of what degenerate gamblers are willing to spend.

Roughly 60% betting odds does not equate to a 60% to 40% lead for Trump in polls, but rather indicates election bettors expect Trump to win about 60 out of 100 election si

Over the past two weeks, the chances of a Trump victory in the November election have surged on Polymarket, a crypto-based prediction market. Its bettors were giving Trump a 62% chance of winning on Thursday, while Harris’s chances were 38%. The candidates were in a dead heat at the start of October.

While conventional polls show the upcoming November election to be a close call, Polymarket, a prediction platform, suggests a different outcome. A total of $26 million in bets, potentially from a single source, have tipped the odds in favor of Donald Trump, the GOP candidate, giving him a significant lead over his Democratic rival, Kamala Harris.

Polymarket betting odds show Trump leading Harris by 15% overall and favored in six out of seven key swing states

The betting favorite has only lost twice since 1866, according to the Conversation, a nonprofit news organization – in 2016 when then Secretary of State Hillary Clinton was favored over Trump throughout the campaign, only to lose and in 1948, when Democrat Harry Truman beat 8-to-1 odds to defeat Republican Thomas Dewey.

Polymarket’s “Presidential Election Winner 2024” market showed bettors giving Trump a whopping 60.3% chance of winning.

A single wealthy supporter of former President Donald Trump is suspected of pouring some $30 million into a cryptocurrency betting website — and dramatically shifting the odds in favor of his recapturing the White House.