Trump's Federal Indictment Shrinks Chances for 2024
The US government has indicted former President Donald Trump with charges related to his management of classified documents at his Mar-a-Lago estate in Florida, Palm Beach. This comes just a few months after he was indicted in New York for allegedly falsifying business records.
Trump, who is now 76 years old, confirmed the federal indictment via his Truth Social media platform. He claimed that it was a dark day for the United States and asserted his innocence. Additionally, he accused President Joe Biden of being behind this move, aimed at silencing him, his primary opponent in the 2024 presidential race.
The former president has been asked to appear in a Miami federal court on Tuesday. The basis of this case is the handling of classified documents by Trump following his departure from office in January 2021.
After initially receiving a subpoena to return the classified documents to Washington, Trump's lawyers returned some boxes of archives. However, the Department of Justice remained suspicious that he still had sensitive information at Mar-a-Lago. This eventually led to a raid in August 2022, revealing 33 boxes containing over 11,000 documents, with approximately 300 of them carrying classification markings, including 100 documents with top-secret markings.
The indictment of an ex-president by the government is unprecedented in the United States. Despite this, Trump isn't fazed and considering the whole incident as a desperate move by the government to hinder his campaign for the 2024 presidential nomination.
Although a federal indictment doesn't hinder an individual from vying for public office, some in the Republican Party may be deterred by the controversy and seek other candidates. This has led to a drop in Trump's share in the PredictIt market, from 60 cents a week prior to 51 cents at the time of writing.
Florida Governor Ron DeSantis is believed to be Trump's biggest rival in his bid for the Republican nomination. His share price in the same market has increased by four cents. VP Kamala Harris and US Senator Tim Scott have weaker odds, though, with 1-cent and 8-cent share prices respectively.
The federal charges against Trump have caused a shakeup in the markets for the GOP 2024 nominee and the 2024 presidential election. While Biden remains the frontrunner, Trump's shares have dropped two cents to 30 cents, and his 2024 presidential election chances are now behind DeSantis, who sits at 26 cents. Trump's legal ordeal is a historic development, something the former president questions the legitimacy of while blaming it on politics.
House Speaker Kevin McCarthy was one of the first to react publicly to the indictment, describing it as a "dark day for the United States of America". He also stated that Republicans would hold those responsible for the indictment accountable.
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