Prediction markets moved swiftly on Monday after Keir Starmer announced his resignation as British prime minister, with Andy Burnham surging to a 97 per cent probability of succeeding him on Polymarket, the world's largest prediction market platform. The 'Next UK Prime Minister in 2026?' market had drawn over $12 million (£9.45 million) in trading volume, with Burnham's odds climbing sharply in the hours following Starmer's televised statement outside Downing Street.
Speaking to reporters, Starmer said his party had asked 'whether I am best placed to lead us into the next general election,' adding: 'I have heard the answer of my parliamentary party to that question, and I accept that answer with good grace.' He confirmed he had informed King Charles III of his decision and would remain in post as caretaker until a new Labour leader is chosen.
