Gamblers are betting the farm that former President Donald Trump will enter the 2024 race and win.

The betting aggregator Smarkets told Secrets that the money backing Trump is the highest yet in the 2024 race.

“Donald Trump is increasingly likely to be elected president in 2024, after hitting an all-time high in the latest betting-market prices on the Smarkets exchange,” said the outfit, which is known for its interactive scorecard of candidates.

At this stage, Trump has a 26% chance of winning, a huge turnaround from just the 4% following the Jan. 6 Capitol riots over his 2020 loss to President Joe Biden.

Graphic courtesy of Smarkets

Trump’s 26% chance tops Biden’s 16% chance. They are followed by Florida Gov. Ron DeSantis at 14% and Vice President Kamala Harris at just 6%.

Matthew Shaddick, head of England’s Smarkets political markets, said: “Donald Trump has now hit an all-time high mark on the Smarkets exchange and is pulling away as the clear favorite to win the 2024 election. Polls continue to place him way ahead of any other Republican.”

He noted that DeSantis is new to the Europe-based betting pool on the 2024 race and has emerged quickly as a favorite.

“He is amassing a string of rich donors and, if anything stops Trump from running, would likely become the overall favorite to take the White House in two years' time,” Shaddick said of DeSantis.