Posted on: September 12, 2024, 02:10h.
Last updated on: September 12, 2024, 02:28h.
Tuesday night’s debate between Vice President Kamala and former President Donald Trump attracted an estimated 67.1 million viewers, the Nielsen company said on Wednesday.
While the Harris-Trump debate fell far short of the record 84 million people who tuned in for Trump’s first faceoff with Hillary Clinton in 2016, Tuesday easily bettered Trump’s June back-and-forth with President Joe Biden that drew in 51.3 million people. Tuesday was also short of the 73.1 million people who watched the first debate between Trump and Biden in 2020.
Political bettors believe Harris won the debate. As a result, her odds of winning the November 5 contest have shortened in days following the event.
On Polymarket, Harris’ implied odds of winning the 2024 presidential election are at 50% or even money. Before the debate, which began with Harris going out of her way to shake hands with the former casino tycoon who seemingly had no intent in greeting her, a moment that paid off for bettors who took odds on the two shaking hands, Harris’ implied odds were as low as 45%.
Trump’s odds have lengthened from 53% before the debate to 49% as of this writing. Nearly $900 million has been bet on the Polymarket contest.
Costly Outcome
Along with Trump’s 2024 odds lengthening following what many called a bad night for the billionaire, his performance cost him considerable money, at least on paper.
Shares of Trump Media & Technology Group (NASDAQ: DJT) tumbled in the aftermath of the Tuesday spectacle. The parent organization of Trump’s Truth Social media platform, which has plans to launch a streaming subscription service called TMTG+ that will air “non-woke” entertainment and conservative news programming, saw its stock price fall nearly 20% on Wednesday.
Trump owns about 60% of the company’s outstanding shares. DJT is down over 75% since its closing high of $66.22 on March 27. It’s now trading at around $16.
Trump’s media group returned the “DJT” ticker to Wall Street. The stock abbreviation was previously used when Trump took Trump Hotels and Casino Resorts public in 1995.
The DJT ticker was used until 2004 when the company went bankrupt. When Trump created a new gaming entity, Trump Entertainment Resorts, that same year, the company traded under the ticker TRMP.
Harris Favored
William Hill, one of the largest bookmakers in the United Kingdom, reported a flurry of bets on Harris in the debate aftermath. William Hill wasn’t alone, as numerous other high-street sportsbooks adjusted their election odds in Harris’ favor.
As of Thursday afternoon, Harris’ odds of becoming the 47th commander-in-chief stand at 4/5 (-125). A winning $100 bet on that line, which implies a likelihood of nearly 56%, would net $80. Trump’s odds are at even money (+100), with a winning $100 bet doubling the wager.
The national polling average as of September 12 has Harris at 47.9% to Trump at 46.7% support. The election, however, will come down to several key battleground states, including Pennsylvania, Arizona, Georgia, Nevada, Michigan, and Wisconsin.
In Nevada, the largest union of casino workers is actively trying to get out the vote in Harris’ favor. The Culinary Union’s support of Harris isn’t exactly a surprise, as the union hasn’t endorsed a Republican for president in decades. The union had earlier endorsed Biden until he dropped out of the 2024 race.
