Biden's Odds of Second Term Plunge After Debate

President Joe Biden's odds of a second White House term plunged after his debate Thursday against former President Donald Trump, according to political betting market data.

Betting website PredictIt.org found that the 81-year-old Democrat incumbent's chances of being reelected dropped 15 points after the CNN-hosted forum.

The site's users can buy stock in a candidate's chances of winning in November. Biden's pre-debate stock price was 48 cents per share, equal to a 48% chance of winning. After the debate, the site showed the president's stock price had fallen to just 33 cents per share.

Trump entered the debate with a 53% chance of winning, according to PredictIt's data. The 78-year-old's stock price on the site peaked at 61 cents per share in the first few moments of the debate, before coming down slightly to settle at 58 cents.

Biden's raspy voice and rambling answers likely didn't help improve his standing with voters, given that they contrasted sharply with Trump's energy and remarks on the economy and immigration.  

On BetOnline.ag, another betting platform, Trump started off as a minus-150 favorite and improved his odds to minus-175.

Biden, a plus-130 underdog when the event began, plummeted to -plus300 after the debate, BetOnline found.

The company told the New York Post that there were a multitude of wagers placed throughout the night on potential alternate Democrat candidates, as well.

"We just kept taking bets over and over again on [California Gov.] Gavin Newsom and [former first lady] Michelle Obama," BetOnline political oddsmaker Paul Krishnamurty said in a statement.

According to BetOnline, Newsom's odds climbed from 25/1 before the debate to 7/1 after, while Obama's odds improved from 22/1 to 16/1.

Newsom and Obama have repeatedly denied having any interest in running for president  during this election cycle.

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