At PredictIt, Traders are betting Against New York Governor Running for Office Next Year


New York Gov. Andrew Cuomo is losing support, and people are coming out clear about how they feel about him. The three-term governor is under investigation for several scandals, including sexual harassment.

Gural, one of his former campaign contributor, is annoyed by his tactics and call him a bully. Gural, the owner of Tioga Downs made his comments after reports of Cuomo’s sexual harassment emerged. Gural adds that people should know how the incumbent governor runs the state.

Sexual harassment accusations include current and former female staffers in his administration and outside his administration. The scandal has prompted prominent New York Democrats to call for his resignation.

Cuomo is not only facing inquiries on sexual harassment, but Federal investigators are also looking into how his office nursing home policies during the pandemic. There were rumors that the governor used state personnel and resources for a book he wrote about managing the pandemic. States lawmakers are also reviewing the issues in their investigation and could lead to his impeachment.

According to records, Gural has made 21 donations to Cuomo’s campaigns dating back to 2002. His last contribution is was made on 5th January this year. Weeks later, many women came forward with their sexual accusations against the governor.

Cuomo is not only losing the support of Gural, but other donors also seem to have back down their support. In the first half of the year, the incumbent governor only got $2.3 million in donations, the smallest he has ever received.

Cuomo is believed to hold more than $18 million for his campaign. However, he will likely need more to seek his fourth term next year. This is because he is not only losing donations but also the votes.

This political instability has made its way to the trading market. At PredictIt, traders are betting on whether Cuomo will be impeached or resign by 1st September. The shares for him to be in office until 31st December are trading at 88 cents.

However, traders are less certain of him being a Democrat or even a gubernatorial candidate next year. On Wednesday afternoon trading, his shares in the racing were trading at 40 cents, and the shares for New York Attorney General Letitia James traded at 33 cents.


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