Donald Trump is now the betting markets' favorite to win the GOP nomination

Up until this point in the 2016 presidential election, the betting markets have not been as kind to Donald Trump as the polls have. But now — less than three weeks ahead of the Iowa caucuses — the real estate magnate has finally pulled into first place as the market's favorite to win the GOP nomination:
The odds on a Trump victory are 15/8, or 34 percent, putting the billionaire real-estate mogul as favorite in the market for the first time, Betfair said in an e-mailed statement in London on Wednesday. Previous favorite Marco Rubio widened to 11/5, or 31 percent, while Ted Cruz is 7/2, 22 percent. [Bloomberg]
Trump's new lead in the betting markets is still matched by the polls, too. Nationally, Trump holds a 17-point lead ahead of the rest of the Republican field.
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