Former President Donald Trump has not officially announced his entry into the 2024 Presidential Election race. If Trump decides to run, he could be considered the favorite based on the results of the recent straw poll and odds from betting sites.
What Happened: The recent results of the CPAC (Conservative Political Action Conference) straw poll show Trump receiving 69% of the vote from around 1,000 attendees. This beat Florida Governor Ron DeSantis, who received 24% of the vote. Texas Senator Ted Cruz also received 2% of the vote, with all other candidates receiving 1% or less of the vote.
Trump received an approval rating of 99% in the straw poll.
The straw poll shows Trump having the same support as he did in a similar poll from July 2021, when the former president got 70% of the vote. A February 2022 CPAC straw poll showed Trump with 59% of the vote.
Another poll that asked attendees who would be the candidate of choice without Trump running saw DeSantis get 65% of the vote, followed by Donald Trump Jr at 8%, Cruz at 6% and former Secretary of State Mike Pompeo receiving 5% of the vote.
Why It’s Important: The CPAC straw poll is often used an indicator of where GOP voters stand. The poll shows Trump is still in the lead despite many pointing to DeSantis, who has received vocal support from the likes of Tesla Inc TSLA CEO Elon Musk, as a strong contender against Trump and in the overall election.
The results of the straw poll also fall in line with what betting odds are saying about the 2024 presidential election. Current President Joe Biden has seen his approval rating drop due to many factors including inflation, the economy and age.
As a result, the Republicans are favored to win the election at betting site Bet365. At Bet365, Trump and DeSantis are both listed at odds of +275. Biden is ranked third at odds of +650, followed by Gavin Newsom at +1200, Kamala Harris at +1400 and Mike Pence at +1400.
In June, Trump was the favorite on the site at +240, followed by Biden at +500 and DeSantis at +550. The new odds show that Biden betting has dropped, and bettors are expecting a close race between Trump and DeSantis.
Betting exchange company PredictIt, which offers a $1.00 payout for the winners of certain outcomes, lists the candidates as follows:
Trump: 28 cents
DeSantis: 27 cents
Biden 20 cents
Harris: 7 cents
Since Benzinga last shared the PredictIt odds, Trump and DeSantis remain the same and Biden went from 22 cents to 20 cents. Harris also declined from 9 cents to 7 cents.
News of Trump rumored to be exploring a presidential run comes as his media company Trump Media & Technology Group is in the process of going public via SPAC merger with Digital World Acquisition Corporation DWAC.
The company has provisions in place that show Trump will still be an owner in the company even if he runs for public office or is convicted of a felony criminal offense.
Photo: Courtesy of Gage Skidmore on flickr
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