00:00Today, I'm going to explain why California Governor Gavin Newsom's stock is dropping
00:05rapidly on prediction markets for the 2028 Democratic Party presidential nomination.
00:10Now, Newsom is still the frontrunner, but he used to be up near 40 percent.
00:14Now he's just above 20 percent.
00:16And part of the reason is that being the frontrunner comes with greater scrutiny.
00:20So people are taking a closer look at his record.
00:22And some of the headlines lately haven't been good for the governor, such as a growing
00:26scandal in Sacramento that has ensnared several of his aides.
00:30But there's also something else happening within the dynamics of the Democratic Party.
00:34New York City Mayor Zoran Mamdani wasn't born in the United States and can't run for president.
00:39But he is a Democratic Socialist, and his chosen Democratic Socialist candidates have been
00:45winning in congressional primaries across the nation.
00:47They've been upending the Democratic Party establishment.
00:50That is a lot more exciting than what Gavin Newsom is doing, which is still trolling Trump.
00:55On July 3rd, the day before America's 250th birthday, Mamdani gave a stirring speech at
01:01George Washington's desk in which he attacked the foundations of American exceptionalism.
01:05And yet the irony is that the story of America has so often been written by those who were
01:10told by others with power and influence and wealth that they were anything but exceptional.
01:15Gavin Newsom gave a similar address on July 4th, but he talked about how Trump was a threat
01:20to Democratic elections.
01:21From one man who exhibits the very behaviors our founding fathers fought against, a corrupt
01:28and unstable president.
01:30Now, whether you believe that or not, Trump is not on the ballot in 2028.
01:34And it's the same thing Newsom has been saying for about two years now.
01:37So it's not new, it's old.
01:39It feels very yesterday.
01:40Whereas Mamdani's style of politics feels very tomorrow.
01:44With Mamdani's candidates rising, it does mean there's less interest in the Democratic Party
01:48in the style of politics that Newsom is still practicing.
01:51And so Newsom's stock is dropping.
01:53And Democratic Party presidential primary voters might be looking for a Mamdani-like candidate,
01:59even if Mamdani himself can't run.
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