Why Price Changes Didn’t Change for so Long With a 50-50 split in the Senate, Republicans have every chance to regain the Senate. The president’s party tends to lose seats in the midterms.
But President Biden’s approval rating and the issue ownership that Republicans have of economic issues are working against the Democrats. The shock of key conservative Supreme Court rulings galvanized Democrats. However, Republicans are still favored to win the Senate back. The price of a Republican House and Senate fell 16 cents, and a Republican House with a Democratic Senate rose 18 cents. During that week, PredictIt balance of power prices changed dramatically. The Supreme Court Changed PredictIt Market PricesĪ week of Supreme Court rulings delivered conservative victories on culture war issues, including abortion, gun rights, and issues related to the separation of church and state. Wade’s overturning moved prices a little, but Republicans remain heavily favored to win both chambers of Congress in 2022. The January 6 hearings didn’t change the odds, either. PredictIt users don’t seem to believe that the far-right sideshow of falsely accusing Democrats of pedophilia during Child Abuse Prevention Month will prevent Republicans from regaining congressional power in 2022. PredictIt users still favor the Republicans regaining congressional power in the 2022 Midterms.
Neither has his Supreme Court nominee, Ketanji Brown Jackson’s, confirmation to the Court. While it’s an informative look at President Biden’s priorities for the next year and his remaining term, it hasn’t impacted bettors’ impressions of key race outcomes.īiden’s handling of Ukraine hasn’t made a major impression on PredictIt’s odds. The March 2022 State of the Union had no impact on the predictions in these markets. But there’s more nuance in a gubernatorial race than a congressional race. Partisanship is still a strong predictor of a governor’s party. They enjoyed approval ratings of 54% and 79% respectively in mid-2021. Democratic Vermont has a Republican governor. Republican Kansas’ governor is a Democrat. Governor races are more difficult to predict than congressional control.Īs FiveThirtyEight points out, governors can overcome partisanship in a way that congressional candidates can’t. While PredictIt offers races on state gubernatorial races, bettors interested in those markets will have to sample those themselves.
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