Economist Peter Schiff said on Tuesday that Vivek Ramaswamy's collapsing odds in the Ohio gubernatorial race stem from his ties to what he called the "disastrous" Trump economy.

Ramaswamy's Odds Plummet

Polymarket, which runs on the Polygon (CRYPTO: POL) network, currently prices a 22% chance that Ramaswamy, the former presidential candidate, wins the high-stakes battle, while Democratic nominee Amy Acton is the hot favorite with 78% odds.

A year ago, Ramaswamy was the clear favorite with a 71% chance and still held a solid 61% at the beginning of 2026. Things have gone downhill ever since.

Schiff said Ramaswamy's association with President Donald Trump's "disastrous" economy has sharply reduced the odds of victory, all this in a state where Trump won three straight elections.

Earlier this year the odds of Vivek Ramaswamy becoming Ohio's next governor were over 85%. But given his association with the disastrous Trump economy, the odds have now collapsed to just 26%. Ohio hasn't had a Democratic governor in 16 years, and Trump won the state three times.

— Peter Schiff (@PeterSchiff) October 20, 2026

The closely watched race has not escaped controversy. A video of Donna Arthur, Acton's estranged mother, has gone viral in which she calls the Democrat "a liar" and urges Ohioans to vote against her.

Acton's brother, Philip Stearns, said the two were removed from their "abusive" mother's custody at 12 and accused Ramaswamy of making the issue a political talking point.

Blue-Collar Workers Unhappy?

The developments come as inflation weighs on Ohio's working-class voters, with some saying that higher fuel and food costs are causing them to reconsider their support for Trump.

Early voting started earlier in the month, with Democrats showing stronger initial turnout.

Schiff has been a strong critic of Trump's economic policies, adding that Americans are more worried about their finances than at any point in 75 years.

Gasoline jumped 9.1% in September, accounting for more than half of the monthly increase. Consumer prices rose 3.7% year over year in September.

Trump's approval rating has fallen to its lowest point across both presidential terms, with Democratic congressional candidates leading Republicans 47% to 35%.