President Biden's decision on Sunday to drop out of the presidential race. Vice President Harris is now the Democratic Party's presumptive nominee. Betting markets haven't seen a dramatic shift in views of the matchup with former President Trump.
Biden withdrew after intense pressure from Democrat politicians. Concerns over his health and mental acuity grew after his poor debate performance against Trump on June 27.
Biden's odds of winning a second term dropped sharply. On PredictIt, his chances fell from about 45% to 15%. On Polymarket, his odds plummeted from about 34% to 7%.
By Wednesday evening, traders on Polymarket gave Trump a 63% chance of winning. Vice President Harris had a 32% chance. Trump's odds stayed mostly unchanged. On PredictIt, Trump's odds dipped slightly from 60% to 57%, and Harris' odds rose from 40% to 45%.
Betting markets saw a surge in activity following Biden's debate performance. "There has been close to record trading on the PredictIt site," said PredictIt Public Relations Director Lindsey Singer.
Singer mentioned a new market for the Democratic vice presidential nominee. This market has been very popular since Biden's withdrawal and Harris becoming the presumptive nominee.
Sen. Mark Kelly, D-Ariz., leads the vice presidential market with a 35% chance. Pennsylvania Gov. Josh Shapiro is close behind with a 31% chance.
North Carolina Gov. Roy Cooper has a 15% chance, and Kentucky Gov. Andy Beshear has a 12% chance. Other contenders include Transportation Secretary Pete Buttigieg at 9% and Minnesota Gov. Tim Walz at 8%.
Buttigieg appeared on FOX Business Network's "Cavuto: Coast to Coast." Host Neil Cavuto asked if the Department of Transportation could afford to lose him if he joined a Kamala Harris ticket. Buttigieg responded, "I admire the creativity of how you tried to get me into this, but I just can't talk about campaigns and elections here." He added, "I'm proud of the work of the department, and I'm proud to work with the leadership of the president and vice president."