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Polls show the presidential race is incredibly tight, but the betting markets give Trump a significant lead over Kamala Harris. So why do the betting markets show such a strong advantage for Trump?
Political and economic analyst Jake Novak told KTRH that people are essentially betting against the polls. He said, "The people putting financial skin in the game are well aware that the polls are almost always skewed too far to the Democrats' side."
Novak also noted that the betting markets could be a better predictor of the election because they react faster than polls. He said, "The betting markets are much more nimble; their numbers move like crazy. When you're agile, sometimes you can get a better read in the end."
He also pointed out that, this close to the election, many pollsters have stopped conducting fresh surveys due to the volatility of the results. That means focusing only on polls could leave you with outdated data.
According to the popular betting site Polymarket, Trump has more than a 60-40 chance of beating Harris and winning re-election on November 5th.