US presidential election betting odds point to a Trump victory

The US Dollar started the week under heavy selling pressure after one of the major betting platforms, PredictIt, showed that Kamala Harris became the slight favorite over the weekend to win the US presidential election. 

Although US presidential election betting odds should not be taken as a representative view of US voters, they might still drive the market sentiment.

On the day of the US presidential election, PredictIt has Donald Trump back in the lead, albeit with a small margin. Other platforms point to much stronger odds for Trump to win. RealCelarPolling's average for betting odds currently has Trump at 57.7 and Harris at 40.7.

Source: RealClearPolling.com

Meanwhile, polls suggest that the race will be much closer than what betting odds point to. The TIPP poll has Trump and Harris tied at 48 in nationwide, the Ipsos poll has Harris leading by two points, 50 vs 48, and the Atlas Intel poll has Trump having a one point lead, 50 vs 49, as per RealClearPolling. In some swing states, such as Arizona and North Carolina, Trump seems to be staying on top, while Harris seems to have closed the gap in others, such as Nevada, Georgia and Pennsylvania. 

Follow our live coverage of the market reaction to the US presidential election as counting results start hitting the wires.