Trump Touts Election Betting Market Numbers As He Surges Past Harris To Become Bookmakers’ Favorite
ForbesOCT 1 2024
Trump Makes Gains in Election Betting Markets
Above: Former US President Donald Trump departs following an address to the Detroit Economic Club at the Sound Board Theater in Detroit, Michigan, US, on Oct. 10, 2024. Image copyright: Sarah Rice/Contributor/Bloomberg via Getty Images
The Spin
Republican narrative
The betting odds absolutely do mean something, and Donald Trump is soaring ahead in these markets. The timing of this isn't random at all, as the markets began trending toward Trump in response to Harris' recent speaking tours, most notably her terrible 60 Minutes interview. Things will only get worse for Harris as more Americans hear her on the campaign trail.
Democratic narrative
This surge in pro-Trump betting should be taken with a grain of salt for two reasons. One is that it only recently became legal to gamble on US elections, which means people — particularly the wealthy who wish to prop up their preferred candidate's position — are betting with zeal now. This artificial bump in Trump's favor will likely cool off before Nov. 5.