Odds-makers see chances of Kamala Harris securing nomination surge ahead of Biden

A number of betting agencies have now set the odds of a Kamala Harris nomination as better than President Joe Biden's after a dismal performance in last Thursday's CNN debate against former President Donald Trump.

William-Hill, a U.K. odds-maker, has the chances of a Harris nomination at 11/2, or 15.4%, while Biden's odds are 6/1, or 14.3%. As of Wednesday, prediction platform Polymarket saw Biden's odds fall from 90% before the debate to 49%. Biden's odds are still higher on Polymarket than Harris's, but hers have gone from 1% before the debate to 35% on Wednesday.

Harris is the odds-on favorite to be the nominee if Biden steps aside despite her poll numbers being lower than his -- at least before the debate. But Harris is the vice president, and traditionally would be next in line to be nominated.

Her unpopularity has no doubt kept Biden's position as nominee more secure than it would have been if she were better liked, but it has become very clear that Biden will lose if he continues his candidacy due to his decline, or the perception of it.

Harris may not be very popular, but she has the best name recognition of any other Democrat who could be seriously considered a candidate.

Another aspect of any candidate other than Harris is that they would need to start fundraising and building a campaign from scratch, whereas Harris would inherit Biden's campaign money and infrastructure because she is on his ticket.