In a historic move, Rep. Kevin McCarthy (R-Calif.) was voted out as the Speaker of the House of the U.S. House of Representatives Tuesday with a vote of 216-210.
Here’s a look at what happened and the betting odds on who the next Speaker of the House could be.
What Happened: On Tuesday, McCarthy was voted out of his Speaker of the House role, marking the first time this has happened in American history.
The move came with a rise of several in the Republican party who wanted to see McCarthy removed and new leadership take over.
A total of eight Republicans voted to remove McCarthy, breaking from the party that has majority control of the House of Representatives.
McCarthy’s removal comes after he was voted into the role in January in a contentious voting process that took 15 ballots to confirm him in the role.
With McCarthy out of the role, the attention now shifts to who the next Speaker of the House will be. Rep. Patrick McHenry (R-NC) was selected as the interim speaker thanks to being on top of a list of potential replacements submitted by McCarthy in January.
A vote for the next Speaker of the House could come at any time and will be closely watched.
It is widely expected that a member of the Republican party and a member of the House of Representatives will be selected in the role. It is worth noting the Speaker of the House does not have to belong to the majority party and does not have to be a member of Congress.
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Betting Odds: Online sportsbook Betonline.ag is offering odds for who the next Speaker of the House could be. Here’s a look at the current odds as of the time of writing:
- Steve Scalise: -120
- Kevin Hern: +700
- Mike Johnson: +700
- Elise Stefanik: +900
- Tom Emmer: +1000
- Donald Trump: +1000
- Patrick McHenry: +1200
- Jim Jordan: +1200
- Hakeem Jeffries: +3300
- Byron Donalds: +3300
- Garret Graves: +3300
- Marjorie Taylor Greene: +6600
- Brian Fitzpatrick: +6600
- Gary Palmer: +6600
- Matt Gaetz: +6600
- Rich Hudson: +6600
- Lauren Boebert: +20000
- Paul Gosar: +20000
The list continues to be updated and see new names arrive. McCarthy was previously listed at odds of +600, but his announcement that he will not run again took him off the list.
All the above names are members of the House of Representatives and members of the Republican party with two exceptions.
Jeffries is a Democrat and the current Minority Leader of the House of Representatives. Trump is the former president of the U.S. and currently running for a return to that position in the 2024 presidential election.
In January, McCarthy became the favorite to win the Speaker of the House election, with several of the names above ranking behind him as strong contenders.
The last Benzinga report on betting odds in January saw the following odds from Oddschecker:
McCarthy: -150
Scalise: +200
Jordan: +1000
Stefanik: +1600
Jeffries: +2500
Trump: +3300
At least one member voted for Trump on the seventh and eighth ballots in the January votes for Speaker of the House and the former president could be nominated once again.
With odds of -120, a $100 bet on Scalise would pay out a profit of $83.33 if he’s elected as the next Speaker of the House. While Scalise is the current favorite, the election process is still early.
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