Coronavirus Has No Party Affiliation, but Disease Helping Joe Biden 2020 Odds
Posted on: March 12, 2020, 12:48h.
Last updated on: March 12, 2020, 01:46h.
The COVID-19 novel coronavirus shouldn’t be a political weapon, but the deadly disease is certainly helping former Vice President Joe Biden’s odds of winning the 2020 election.
As the Democratic Party has narrowed down its field, Trump has been the long-running favorite in the PredictIt market asking, “Who will win the 2020 US presidential election?”
A month ago, Trump’s shares were trading at 54 cents. Vermont Sen. Bernie Sanders was next at 29 cents, and Biden a long third at just four cents. Now, with all the Democratic momentum behind Biden following two successful Tuesdays, he’s not only the favorite to win his party’s nomination, but also the presidency.
As of Thursday afternoon, Biden’s presidential election shares were trading at 48 cents, and Trump at 44 cents. Winning shares are redeemed at $1 each.
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Republicans argue the President has been at the forefront of the disease, implementing travel restrictions in late January on foreign nationals arriving from China, as well as six other countries.
At the time, Democrats panned the travel ban, House Speaker Nancy Pelosi (CA) saying, “The Trump Administration’s expansion of its outrageous, un-American travel ban threatens our security, our values, and the rule of law.”
Democrats argue the Trump administration has been grossly underprepared for such a pandemic. Specifically, the availability of testing kits.
“We have a public health crisis in this country and … alarmingly, the President did not see how the administration will address the lack of coronavirus testing kits throughout the United States,” a joint statement from Pelosi and Senate Democratic Leader Chuck Schumer (NY) read.
Biden echoed those sentiments in his own coronavirus plan.
“The Trump Administration must now heed the calls of House Speaker Nancy Pelosi and Senate Democratic Leader Chuck Schumer to put the health and safety of the American people first,” Biden declared. “Much more needs to be done, now, to bring our country together, respond to this emergency, and set the groundwork for bold, long-term reforms, including ensuring quality, affordable health care and a comprehensive paid leave program for every American.”
Americans head to the polls November 3 to choose whether to reelect Trump, or bring in a new commander in chief.
PredictIt’s market asking which party wins the White House has Democratic shares 54 cents, Republican shares at 46 cents. The GOP line is down four cents over the last 24 hours.
The presidency isn’t the only election voters will decide. All 435 seats in the US House of Representatives are on the table, as are 35 seats in the Senate.
The GOP is expected to retain control of the upper chamber following the November election, with Republican shares on that outcome at 55 cents. The Democrats should keep control of the House, their shares at 73 cents.
Strangely, the PredictIt market regarding the balance of power in Congress post-November has a Democratic-controlled House and Senate the favorite at 43 cents. A Democratic House and Republican Senate is next at 39 cents.
Trade volume has been steadily increasing on PredictIt. More than 68.2 million shares on the 2020 presidential winner have been exchanged.