A betting company has cut its odds on President Biden successfully winning re-election in 2024.
Biden is under pressure after it emerged that a special counsel had been appointed to investigate classified documents found at the Penn Biden Center think tank in Washington D.C. and at his Delaware home.
The documents dated from Biden's time as vice-president, during the Obama administration.
Following the special counsel's appointment, Biden's chances of winning the 2024 presidential election fell from 14/5 on January 11, to 10/3 on January 13, according to U.K. bookmakers Betfair Exchange.
Speaking to Newsweek Sam Rosbottom, a spokesperson for Betfair Exchange, said: "Odds on Joe Biden to be reelected US President have drifted to 10/3 from 14/5 since an investigation into his handling of classified documents began on Thursday. Florida Governor Ron DeSantis remains the 5/2 favourite to win the 2024 Presidential Election, while Donald Trump is 13/2 to complete a White House comeback."
Whilst the Penn Biden Center documents had been discovered on November 2, just prior to the midterm elections, their existence was only confirmed by the White House on Monday.
The revelation was a major embarrassment for Biden, especially as prominent Democrats sharply criticized former president Donald Trump after classified documents were found at his Mar-a-Lago resort in Florida.
It later emerged classified documents had also been found in the garage of Biden's longtime residence in Wilmington, Delaware.
On Thursday Attorney General Merrick Garland appointed attorney Robert Hur as special counsel, tasking him with investigating the document's handling and finding out if any laws were broken.
Garland had appointed John Lausch, the U.S. Attorney for the Northern District of Illinois, to conduct an initial investigation.
Speaking on Thursday, Garland said: "On January 5th, 2023, Mr. Lausch briefed me on the results of his initial investigation and advised me that further investigation by a special counsel was warranted. Based on Mr. Lausch's initial investigation, I concluded that, under the special counsel regulations, it was in the public interest to appoint a special counsel."
After classified documents were found at his garage in Delaware, Biden defended his actions.
Answering a reporter's question on Thursday, he said: "I'm gonna get a chance to speak on all of this, God-willing soon...by the way my corvette's in a locked garage, okay? So, it's not like they're sitting in the street.
"But as I said earlier this week, people know I take classified documents and classified materials seriously."
Biden said he was "surprised" to hear his lawyers had found the initial classified documents at the Penn Biden Center think tank, after which they notified the relevant authorities.
He added his team is "cooperating fully and completely with the Justice Department's review," which led to the additional documents being found in his garage.
Newsweek has contacted the White House for comment.
Uncommon Knowledge
Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.
Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.
About the writer
James Bickerton is a Newsweek U.S. News reporter based in London, U.K. His focus is covering U.S. politics and world ... Read more
