Joe Biden Drops Out of 2024 Race, Endorses Kamala Harris

In a surprising turn of events, President Joe Biden announced on Sunday that he will not seek reelection in 2024 Instead endorsing Vice President Kamala Harris as his successor. What prompted this decision How might it impact the upcoming election?

Biden explained his decision in a letter posted to Twitter. He emphasized his commitment to fulfilling his presidential duties for the remainder of his term. He stated, "While it has been my intention to seek reelection I believe it is in the best interest of my party and the country for me to stand down." Biden plans to address the nation later this week to elaborate on his decision.

In his letter, Biden praised his administration's achievements. These include lowering prescription drug costs expanding healthcare, and supporting veterans. Also passing significant climate legislation and appointing the first African American woman to the Supreme Court. He expressed his gratitude to Kamala Harris and the American people, saying "It has been the greatest honor of my life to serve as your President."

Following Biden's announcement Polymarket, a leading crypto predictions platform saw dramatic shifts in election odds. Harris' chances of securing the Democratic nomination surged to 82%. Trump leads with a 64% chance of winning the election. Interestingly, Harris is favored to win the popular vote with 43% odds compared to Trump's 42%.

The news also affected Bitcoin prices. These briefly dipped below $66000 before stabilizing at $67,000.

In the Democratic VP nominee market, Pennsylvania Governor Josh Shapiro emerged as the frontrunner with 30% odds.

Biden's decision marks a significant shift in the political landscape. Will Harris be able to unite the Democratic Party and challenge Trump effectively? Only time will tell. For now, Biden focuses on concluding his term. He supports Harris' campaign.