News Trump Shortens in Impeachment Markets

Trump Shortens in Impeachment Markets

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The odds of a Presidential impeachment have shortened this week, following the start of impeachment proceedings in the US House of Representatives.

In line with many betting firms, Paddy Power has cut the price on a Donald Trump impeachment after a first day of testimony in impeachment hearings.

On Wednesday, representatives heard evidence from key US officials William Taylor, the US ambassador to Ukraine and the State Department’s George Kent, who disclosed evidence concerning their exchanges with Ukrainian officials. Trump is accused of using $400 million worth of military aid as leverage on Ukraine’s president Volodymyr Zelensky in an attempt to get him to launch an investigation into Trump’s potential 2020 Democratic rival Joe Biden and Biden’s son Hunter.

Nixon approach

Despite attempts by Republican lawmakers to derail the proceedings, the general consensus on Wednesday’s events was that it had been a bad day for the President, and that led Paddy Power and others to cut their impeachment odds. Trump is now a 1/5 shot to be impeached during his first term of office, while those who think he can survive the process, can back him at 3/1.

Paddy Power rate the chances that Trump will follow President Nixon’s 1974 example and resign from office before he is impeached, can back that eventuality at 5/1, while he is rated as a 6/5 chance to win the 2020 Presidential election against an unnamed Democrat opponent.

Despite his current difficulties, Trump’s ability to survive has been notable, and is reflected in the statement put out by the bookmaker on Wednesday:

“A Donald Trump impeachment is likelier than ever according to the odds, as the first public hearing begins today. It’s the latest event in the Trump circus we have become used to, though we think it’s highly unlikely he’ll ‘do a Nixon’ and resign before he can be impeached.” 

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