As a seasoned crypto investor and follower of political news, I’ve seen my fair share of unexpected twists and turns in both markets. However, the recent developments surrounding U.S. President Joe Biden’s potential withdrawal from the presidential race have left me feeling uneasy.
Based on information from reliable sources, there’s an 80% chance that U.S. President Joe Biden will step down from his reelection campaign by the end of this weekend. This prediction has been made on the decentralized forecasting platform Polymarket.
The odds have significantly increased, nearly five-fold, since they stood at approximately 33% on Polymarket just two days prior. As reported by Axios on Thursday morning, there’s mounting pressure among Democrats and their allies for President Biden to step down within the coming days.
Following a disappointing debate performance last month, 81-year-old Biden has recently contracted COVID-19. Consequently, there’s growing scrutiny about his health and fitness to lead, with whispers suggesting that another candidate could potentially step up as the Democratic nominee.
According to ABC News, notable Democratic figures, including Senate Majority Leader Chuck Schumer, have urged President Biden to consider pulling back over the past week.
Nancy Pelosi, the ex-House Speaker, shared with President Joe Biden her concern based on polling data that Donald Trump, the previous president and Republican presidential nominee, is expected to secure victory in the upcoming election. Additionally, Pelosi expressed apprehension over how Biden’s ongoing campaign could negatively impact the Democrats’ efforts to retake the House of Representatives, as reported by CNN.
According to The Washington Post, former President Barack Obama has encouraged Biden to carefully assess his chances of being re-elected before the Democratic National Convention, which is scheduled for August 19 in Chicago and will determine the Democratic Party’s presidential nominee.
As a political analyst, I’ve been closely following the ongoing speculation regarding potential Democratic candidates for future elections. Some of the names frequently mentioned in news reports include Governors Gavin Newsom of California, J.B. Pritzker of Illinois, and Gretchen Whitmer of Michigan. Additionally, Vice President Kamala Harris has been identified as a strong contender by many political observers.
Based on data from Polymarket as of Thursday afternoon, the probability of Kamala Harris securing the Democratic nomination stood at 59%. Meanwhile, the values of certain memecoins connected to potential Biden alternates experienced notable increases the previous day.
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2024-07-18 22:44