Politics

Obama’s odds of re-election fall on futures-market website

Alexis Levinson Political Reporter

As goes the Dow Jones Industrial Average, so goes Obama’s stock: According to Intrade, Americans are losing confidence in President Barack Obama’s ability to win re-election. Intrade is a website where users place bets on the outcome of future events.

On Intrade, people buy and sell shares of future events based on how likely they think it is that something will occur. In the past few weeks, Obama’s stock has dropped. As of Tuesday, traders gave Obama just a 50.1 percent chance of being re-elected.

Those odds have seen a steady decline since August 3, when traders gave Obama a 56 percent chance of returning for a second term.

Obama’s chances of re-election — at least according to Intrade users — have been falling since May, when they peaked at 69.9 percent following the news U.S. troops had killed Osama Bin Laden. Until recently, odds held steady at around 60 percent for most of the year.