Betting Markets Shift To Prediction That Republicans Will Win Control Of The Senate

Just a few short months ago, it looked like Democrats were going to hold on to control of the Senate, but things are shifting quickly as we get closer to the midterms.

The momentum has swung to Republicans in a handful of Senate races.

Now the betting markets are shifting towards a prediction that Republicans will win the Senate.

Breitbart News reports:

Betting Markets Swing Toward Prediction That Republican Party Will Take Control of Senate

The betting market PredictIt shows bettors are shifting their attitudes for the first time since the mid-summer and now believe the Republican Party will likely take control of the U.S. Senate after the midterm elections, according to the most recent predictions.

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According to the betting odds, the GOP is favored to win by 56 cents on the dollar. Meanwhile, the Democrats’ chance of securing the Senate majority are 47 cents on the dollar.

The Republican Party’s odds are up from a low of 35 cents on the dollar in late August. The GOP has not been favored to win the Senate majority since July, when markets favored Republicans at 60 cents on the dollar.

PredictIt’s odds are aligned with the most recent polling data. A Trafalgar Group poll released over the weekend found that Republicans lead Democrats on a generic congressional ballot by 5.3 percentage points. That poll also found that Democrat President Joe Biden only has a 39.1 percent approval rating.

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Everything is trending in the right direction for Republicans.

Republicans are already expected to win the House.

They could win the Senate too, and that would be something.


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