(The Hill) — Online betting markets now give Florida Gov. Ron DeSantis (R) the edge to win the White House in 2024, overtaking former President Trump in the wake of Tuesday’s midterm elections.

DeSantis’s odds in the 2024 presidential race jumped to 28% on Wednesday, while Trump’s dropped to 18.4%, according to Election Betting Odds, a tracking website run by conservative pundit John Stossel and his executive producer Maxim Lott that looked at the odds offered by multiple other forums.

Two of the sites that Election Betting Odds pulls from — Betfair and Smarkets — both showed DeSantis holding a substantial lead over Trump, with the Florida governor coming in at 27% to 27.8% and the former president at 18.2 to 18.5%.

PredictIt showed a slimmer lead, with DeSantis at 31% to 32% and Trump at 28 to 29%.

President Biden sits below both Republicans in the 2024 presidential odds, with 15.2%, although he was up 3% from the day before.

The shift comes after Tuesday’s midterm elections failed to provide the “red wave” that the Republican Party had hoped for. With Trump putting his name behind GOP candidates in several major races, the midterms were largely framed as a referendum on the former president and his MAGA wing of the party.

DeSantis, meanwhile, cruised to an easy reelection, fueling speculation on the right that he could be the heir apparent for the party’s nomination.

Before the polls even closed in the 2022 midterm elections, both Trump and DeSantis were fueling 2024 chatter. 

Trump has frequently teased a campaign announcement throughout the final weeks of the midterms, recently saying he has a “big announcement” coming next Tuesday. The former president has also taken direct aim at the Florida governor — likely his biggest competitor — warning him not to enter the race in 2024 because it wouldn’t be “good for the party.”