US Election 2024: Donald Trump 3/1 to be next president after indictment

• Trump is first president to face criminal charges

• He's favourite to be Republican nominee in 2024

• 3/1 to win and return to White House

Donald Trump is 4.03/1 on the Betfair Exchange to win next year's US presidential election after he became the first president to face criminal charges.

Last night a grand jury voted to indict Trump in New York over hush money allegedly paid to the adult film star Stormy Daniels during the 2016 election.

He is likely to appear in court on Tuesday and enter a plea.

In the meantime, the Betfair markets indicate that Trump is still in with a chance of winning next year's US presidential election.

Trump, who served one term as president from 2016-2020, is the shortest price of any potential Republican candidate to win the presidency in 2024.

US presidents are limited to two terms but there is nothing to stop a one-term president, who has lost an election, making a bid to return to power.

Biden favourite but Trump not far behind

President Joe Biden is the current favourite at 3.185/40 to win a second term after defeating Trump in 2016.

But at 4.03/1 the chances of Trump winning a return to the White House are significant, according to Betfair punters.

He is 1.774/5 to be the Republican nominee and his nearest rival in the betting, the Flordia governor Ron De Santis, has drifted to 3.4549/20.

Trump leads most polls for the Republican nomination and some of his supporters believe that the grand jury's decision to indicte him will help his chances of winning.

Whether that turns out to be true will be fascinating to watch as candidates and parties prepare for what is likely to be a close fought presidential election next year.

Keep up with the latest political betting stories on both sides of the Atlantic with our Live Blog.