Popular betting website PredictIt has been experiencing high traffic recently with visitors placing their bets on the fate of Donald Trump’s presidency. And according to recent data, the odds of a Trump impeachment in the House have hit an all time high as the Democrat’s inquiry discovers new info on the Ukraine scandal.
Last week, bets on Trump’s impeachment reached a high of $.75 for a yes vote. Bets are made against a single dollar and represents the betting site’s market which predicts the chance that Trump will be impeached is now at 75%.
There was a definite upswing on the bets after what has been called “damning” testimony last week from US acting ambassador to Ukraine Bill Taylor. Taylor was questioned at a closed-door Congressional hearing and gave details and information about how the Trump administration clearly tied aid for Ukraine to investigations into the 2016 US presidential election and, more recently, to former Vice President and 2020 presidential hopeful Joe Biden and his family.
The rules outlined by PredictIt on the impeachment bet are that the House of Representatives pass at least one article of impeachment against President Donald Trump during his first term in office. PredictIt doesn’t require an actual trial or a conviction in the Senate for the “yes” bets to stand as winners- simply a vote for yes on one article of impeachment. .
PredictIt was in the news last month when “yes” bets hit $.50 on the dollar when the Ukraine scandal first broke and news got out that House Speaker Pelosi was going to open an impeachment inquiry. Then later in the month, another jump to $.60 and higher. Now this.