Former president Donald Trump, once leading in the polls, now finds himself trailing by 4 points after a 9-point swing in the election odds over the past 9 days.
What Happened: The reversal comes as the race for the 2024 U.S. presidential election intensifies, with Trump losing ground after earlier momentum in August.
According to Polymarket data, Trump's odds of winning the election have slipped significantly since Sep. 10, which was right before the first debate with Vice President Kamala Harris.
At that time, Trump was positioned favorably, but unfavorable polls following the debate have shifted voter sentiment and brought about the notable change in his standing.
The former President continues to slip in the election odds, with Vice President Harris building on her small lead from 24 hours ago.
Electionbettingodds.com, a site aggregating election odds from different sources, even shows an almost 8-point lead for the Vice President, who is ahead by 53.3% to Trump’s 45.6%.
Why It Matters: The shifting dynamics of the presidential race echo concerns raised by Anthony Scaramucci, founder of SkyBridge Capital, who has warned about the potential risks of Trump's divisive presence in the political landscape.
"Trump is a polarizing person. He's for it," Scaramucci said at a panel, highlighting how Trump's influence could further divide opinions on key issues, including cryptocurrencies and broader economic policies.
The former White House Communications Director also commented on the Vice President’s stance on cryptocurrencies, saying he is working with other bitcoin advocates on “distancing” her from SEC Chair Gary Gensler.
These developments will likely be a major topic at Benzinga's Future of Digital Assets event on Nov. 19, where industry leaders will discuss how the outcome of the election could impact markets, including digital assets and the broader financial landscape.
