Mark Cuban isn’t actually going to run for president this year. Well, that’s at least what political bettors believe, as the odds of the billionaire entering the November general election are currently long.
“Shark Tank” billionaire Mark Cuban is keeping his options open regarding 1600 Pennsylvania Avenue. (Image: CNBC)
The Dallas Mavericks owner teased a potential 2020 run Sunday. “I’m just keeping the door open,” Cuban said during a conversation with Fox News Sunday.
“I never would have considered it prior to a month ago. But now things are changing rapidly and dramatically,” Cuban explained. He added that he is not “actively pursuing” a formal run.
On the political betting exchange PredictIt, forecasters weren’t sold by his remarks. “Will Mark Cuban run for president in 2020?” has “Yes” shares at just nine cents. The trading price didn’t change despite Cuban’s comments.
Former VP Joe Biden is the presumptive Democratic Party nominee to challenge President Donald Trump. His shares of securing the party’s ticket are at 83 cents, New York Governor Andrew Cuomo (D) a distant second at seven cents. Former First Lady Hillary Clinton is third at four cents. She’s the only other person whose shares are trading at more than a penny.
Cuban Criticism
Cuban told Fox News that he doesn’t believe everything the Trump administration is doing to keep the economy afloat during the COVID-19 pandemic has been sound. Specifically, the Texan took issue with the Small Business Administration’s Payroll Protection Plan (PPP), which is issuing forgivable loans so long as companies continue paying their laid-off employees.
Cuban said the federal government should have instead guaranteed banks that account overdrafts made by small businesses would be reimbursed.
With an overdraft protection program, companies could just continue as usual, pay their payrolls, pay their insurance, pay the utilities, rent, et cetera, and they wouldn’t have that fear that they wouldn’t be able to make those payments,” Cuban opined.
The gaming industry, which Cuban is a party of through his investment in Sportradar, a sports betting data and security supplier, and Unikrn, an esports betting company, has also been critical of the PPA. That’s primarily due to the federal stimulus plan excluding small businesses seeking payroll assistance that generate more than one-third of their revenues from gaming.
2020 Odds
With Cuban the longest of longshots to take tenure in the White House, political bettors are split as to whether Trump wins a second term, or Biden becomes commander in chief.
“Who will win the 2020 US presidential election?” has Trump currently in the lead, his shares trading at 51 cents. Biden is second at 43 cents, and Cuomo and Clinton third at four cents. Current VP Mike Pence rounds out the top five at two cents.
But it’s a toss-up when it comes to “Which party wins the presidency in 2020?” Both Democratic and Republican shares are at 50 cents.
According to the Real Clear Politics polling average, the President currently has a 44.9 percent approval rating. UK oddsmakers have Trump at even money to serve four more years.