DraftKings Ontario has posted odds for the 2024 Presidential Election as of Wednesday, with Donald Trump the current betting favorite.
DraftKings Sportsbook made Trump +250, ahead of fellow Republican and Florida Gov. Ron DeSantis at +300.
Sitting president Joe Biden and his VP Kamala Harris were next in the betting at +550 and +1200 respectively.
Other runners and riders
Those two could face a challenge on the Democratic side from California Gov. Gavin Newsom at 30/1.
Other notables in the field include:
- Dwayne ‘The Rock’ Johnson at 45/1
- Jeff Bezos at 65/1
- Kanye West at 100/1
The vote is a mere 846 days away.
Ontario only
The odds are only available on DraftKings in Ontario sports betting, with political betting still broadly prohibited in the US.
That said, there are two big exceptions. US residents can wager on the election via the Iowa Electronic Markets or via the website PredictIt.
Both platforms operate under so-called ‘No Action’ letters from the Commodity Futures Trading Commission (CFTC.) These letters allow them to operate as educational endeavors without fear of the CFTC taking action against them.
The PredictIt market has the same top four in the betting.
Will the US ever get widespread political betting?
As sports law professor John Holden wrote for LSR in 2020:
“The principal obstacle for wagering on elections in the United States rests at the state level. While some argue that legalized wagering on elections may spur voter turnout, others see it as against the public interest.”
Indeed, most states have prohibitions on political betting written into law. There is also legal uncertainty whether political betting is regulated as commodity trading under the Commodities Exchange Act.
One snafu in West Virginia
As a result, operators have not been willing to risk upsetting regulators, especially given FanDuel‘s experience in 2020.
The operator opened a presidential betting market in West Virginia, but pulled it after just two hours at the request of state officials.
WV law seemingly prohibits betting on elections held in the state:
“It shall be unlawful to bet or wager money or other thing of value on any election held in this state. Any person violating the provisions of this section shall be guilty of a misdemeanor, and, upon conviction thereof, he shall forfeit the value of the money or thing so bet or wagered and shall be fined not more than $50.”
