PANews reported on January 4th that data from a prediction market website showed that the probability of Venezuelan President Maduro stepping down before January 31st began to rise at 10 PM ET on Friday, after remaining at 5%-6% for the previous week. Before 10 PM Friday, this probability rose to 8.5%, reaching 12.5% before 1 AM Saturday, and then steadily climbing from 1:15 AM onwards. At least six contracts totaling $56.6 million were placed on the website betting on Maduro's resignation, including approximately $11 million betting on his resignation before January 31st, which was successful; and approximately $40 million betting on his resignation before November 30th or December 31st, both of which failed.
Six contracts in the market betting on Maduro's downfall totaled $56.6 million.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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