Thousands of dollars have been placed on the possibility of President Joe Biden standing down as the Democratic candidate in 2024, as the incumbent’s approval ratings remain low.
The betting website Polymarket says just shy of $40,000 has been bet on Biden dropping out of the presidential race.
It comes amid low approval ratings, concerns about his age, criticism of his handling of a number of crises and remarks made by Biden himself.
Previously, Biden, 81, said he doubtfed he would run for a second term if Trump had decided not to enter the race to try to win back the White House in 2024. He told a fundraiser in Massachusetts in December: “If Trump wasn’t running, I’m not sure I’d be running.”
He added: “We cannot let him win for the sake of our country.”
Drew Angerer/Getty Images
Speaking on December 6, however, Biden told reporters “I expect so” when asked if he would be running if Trump wasn’t. “Look, he is running and I have to run.”
Asked if he will drop out if Trump does, Biden said: “No, not now.
Trump faces four criminal indictments ahead of the election, and it is uncertain that each of the trials will be wrapped up before the election on November 5.
Two of the trials, in Georgia and Washington D.C., relate to alleged attempts to overturn the 2020 election. Trump has denied the charges and says they are politically motivated.
Biden’s polling numbers are struggling and a survey conducted by the American Research Group from December 17-20 indicated 57 percent of responders disapprove of his presidency. Just 37 percent said they approved.
Several polls also show Trump pulling ahead of Biden in a head-to-head, according to analysis website FiveThirtyEight.
As a result, sites like BetOhio say Biden’s “age and occasional health scares means betting sites can’t commit any further than -275 on Biden winning this race.”
The odds, quite literally, do not look good for Biden. Newsweek reported previously that he is around 10 points behind where one-term President Jimmy Carter was at the same point in his presidency and even further behind George H.W. Bush, who lost to Bill Clinton in 1992.
Newsweek has approached the White House for comment.
Despite the concerns, no politician at the top of the Democratic party has come out against Biden and said publicly he should not run.
He is currently up against author Marianne Williamson and Minnesota Congressman Dean Phillips in the Democratic primaries. FiveThirtyEight has Biden at an average of 70 percent of the votes in the primary polls, with Williamson the closest to him on around 7 percent.
An alternative in Vice President Kamala Harris may not be a preferred choice for voters, with her own approval rating averaging around 37 percent.
Uncommon Knowledge
Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.
Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.