Impeachment Protest.
(Image credit: Brendan Smialowski/Getty Images)

As more and more Democrats come out in support of launching an impeachment inquiry, the betting odds of it happening have increased, as well.

Bloomberg reports that PredictIt, a prediction market for political and financial events, is now giving President Trump a 42 percent chance of being impeached by the end of the year in light of allegations that he pressured Ukrainian President Volodymyr Zelensky to investigate former Vice President Joe Biden's son in exchange for military aid.

Yes, that's still below 50 percent, but it's more than double the market's previous high, which topped out at 20 percent in June after former Rep. Beto O'Rourke (D-Texas) called for impeachment proceedings from the Democratic presidential primary debate stage.

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Of course, a House vote to level charges would just be the first step in the impeachment process, so even if House Speaker Nancy Pelosi (D-Calif.), who has long remained reluctant, is indeed past the impeachment tipping point, there would still be plenty of hurdles facing the Democrats — and, subsequently, those betting on impeachment. Read more at Bloomberg.

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Tim O'Donnell

Tim is a staff writer at The Week and has contributed to Bedford and Bowery and The New York Transatlantic. He is a graduate of Occidental College and NYU's journalism school. Tim enjoys writing about baseball, Europe, and extinct megafauna. He lives in New York City.