Trump lost the 2020 presidential election to Joe Biden by a larger than expected margin.

A 76-year and an 80-year-old are now the favorites in the race for the White House.

Joe Biden announced that he will run for re-election, which was uncertain a few months ago but was increasingly clear more recently.

"Let's finish this job," he said.

"When I ran for president four years ago, I said we're in a battle for the soul of America, and we still are," Biden said. "This is not a time to be complacent. That's why I'm running for re-election."

So long as he stays healthy, him winning the Democrats nomination is a certainty.

On the other side, Donald Trump has emerged as a clear betting favorite to beat Ron DeSantis and the rest of the field, though it could be a bruising process. PredictIt has Trump at 55-27 over DeSantis. Bookies have Trump at -200 to win the nomination, DeSantis at +250 and no one else better than +2000.