A series of negative news stories have hit the odds of President Donald Trump’s nomination as Republican candidate in the 2020 Presidential election.
Earlier in the week, Trump’s former attorney, Mike Cohen, was given a three-year prison sentence for violating campaign finance rules by attempting to arrange payoffs for women that Trump was alleged to have had relationships with. The damage to the President has been increased by Cohen’s increasingly strident public attacks on his former boss.
The Cohen sentence comes after the long-running saga involving Trump’s former campaign head Paul Manafort, who is also facing possible jail time, and the week has seen a new scandal developing around the spending of Trump’s inauguration committee. The committee spent over $100 million on Trump’s inauguration, more than twice as much as the usual rate for these occasions, and reporting has suggested that many of the payments were made to Trump-owned facilities. There has also been speculation over the source of some of the funding and whether favours were sought in return.
Meanwhile, the Mueller probe into a range of issues associated with the 2016 Presidential election continues, and while the Republican party is so far standing behind Trump, it remains to be seen whether he will continue to be regarded as an electoral asset by 2020.
As a result, Trump’s odds of being the Republican nominee have been drifting upwards. As sitting President, he remains the clear favourite, but his odds have drifted as high as 4/7 with some bookmakers. One bookmaker is also odds-on that articles of impeachment will be filed against the President during his first term of office.
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