Video Summary

Trump's chances of winning the presidency have taken a dramatic turn in the past 24 hours. Early morning polls showed him surging ahead, with odds of 80% of becoming the next President of the United States. However, as more states were called in favor of Joe Biden, the markets have reversed, and Biden is now favored to win. The latest odds have Biden at 78% and Trump at 21%. This swing in the markets can be attributed to Biden's strong performance in key states, including Wisconsin, Michigan, and Nevada. As these states were called in favor of Biden, the markets began to adjust, with Trump's odds plummeting.

The betting public is also eager to know whether Trump will concede if he loses the election. The odds for him not conceding have increased to 55%, up from 48% yesterday. betting on the timing of the election results has become increasingly popular, with many users predicting a winner will be declared next week due to potential recounts. Additionally, the betting market for the Senate races has seen a significant shift, with the likelihood of the Republicans holding the Senate now standing at 78%, down from earlier expectations of a Democratic sweep. The current market volatility has been unprecedented, with 6 million users having placed bets in the past 24 hours, making it the largest political market Smarkit has ever had.