Legendary investor Stanley Druckenmiller has shared his insights regarding the upcoming election and who he believes will come out ahead. In an interview on Bloomberg, Druckenmiller discussed how markets are already predicting Donald Trump’s victory and how this might play out if Congress also turns red in the election.

The investor, famous for having founded and managed Duquesne Capital, the investment management firm that offered returns of 30% daily to its investors, states that while he has no clue about the definite outcome of this election process, markets were already sending a clear signal.

He stated:

I must say in the last 12 days, the market and the inside of the market is very convinced Trump is going to win. You can see it in the bank stocks, you can see it in crypto, you can even see it in DJT, his social media company.

Druckenmiller related that he was a fan of using market indicators for the economy and that these could also be used for elections. He likened the situation to what happened with markets when Ronald Reagan won the 1980 elections despite what predictions and other sources said. Reagan scored a landslide win, with the Republican party also winning control of Congress.

Druckenmiller also stated that a “red sweep,” meaning that Republicans gain control of Congress, would lead to deregulation and potentially a stronger economy within three to six months.

“If you put a gun to my head and thank God there’s not one in my head, so this really doesn’t matter, I would have to guess Trump is the favorite to win the election now,” he concluded.

Druckenmiller’s thoughts resonate with recent moves in the election market bet on Polymarket, with Trump pulling ahead of Harris.

Read more: Polymarket Predicts Trump Leading Harris by 58.3% in 2024 Election Odds

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