With only days before election, betting market predicts GOP will likely take Senate in midterms

Republicans have gained a sharp edge over Democrats in polls leading up to next week’s midterm election, with betting market PredictIt updating its prediction to a 70 percent chance that the GOP will take control of the Senate from the Democratic Party after the votes are cast.

PredictIt’s data going into the weekend before the polls open showed Democrats at only a 30 percent chance of maintaining control of the Senate, while Republicans have a 70 percent shot at taking over.

Several weeks ago, Democrats had picked up some steam, but as inflation continues to soar, American voters have answered across many polls that the increasing cost of living is their number one ballot issue as they prepare for Tuesday’s vote.

Another betting site, Smarkets, also gives the GOP a 70 percent chance of flipping the Senate red, but some top polling sites are not as optimistic. 

FiveThirtyEight gave Republicans 55 in 100 odds of taking over the Senate a few days ahead of the election, with some races neck-and-neck. The Cook Political Report updated its predictions this week, saying Republicans are likely to win control of the Senate next week.

When it comes to the House, FiveThirtyEight predicts there is a 4-in-5 chance that Republicans will pick up enough seats to win back control from the Democrats.

Voter enthusiasm on the GOP’s side may propel Republicans to victory in next week’s election, allowing them to take control of Congress, and severely restricting the Biden White House’s abilities to effect policy change for the next two years.