Donald Trump's odds of winning the U.S. presidential election have surged to a more than two-month high on the leading prediction market, Polymarket.

Traders now give the former president a 55.8% chance against Vice President Kamala Harris' 43.8%, based on pricing on Polymarket, where over $1.6 billion has been wagered on the November election.

Donald Trump has pulled ahead of Kamala Harris on Polymarket. (Scott Olson/Getty Images)

Trump's chances have risen to levels last seen days after President Joe Biden announced he wouldn't seek reelection, paving the way for Harris to potentially take over.

Other prediction markets, including Kalshi and PredictIt, also show Trump leading Harris by slight margins. Kalshi shows Trump at 52% and Harris at 48%, while PredictIt has them at 53% and 52% respectively.

Despite Polymarket not being officially available to Americans, users can circumvent this restriction using VPNs. Kalshi and PredictIt are permitted within the U.S.