Oct 28 (Reuters) - Shares of former U.S. President

Donald Trump's media company surged to their highest since June

on Monday, extending a recent rally as betting odds favored the

Republican candidate in the final stretch of his bid for

reelection to the White House.

Shares of Trump Media & Technology Group ( DJT ), which

operates the Truth Social app, jumped 20% to $46.93. The stock

has nearly quadrupled since sinking to an all-time low in late

September.

Since its listing, Trump Media ( DJT ) has been popular with traders

who view it as a speculative bet on Trump winning the Nov. 5

election. He owns 57% of the company, making his stake now worth

over $5 billion.

Trump Media's ( DJT ) revenue in the June quarter was $837,000 and

the company is burning cash. Strategists say its $9 billion

stock market value is detached from its day-to-day business.

With eight days to go before the election, betting odds

reflect expectations Trump is likely to beat Vice President

Kamala Harris, the Democratic candidate. However, opinion polls

show a tight race in the seven battleground states that are

expected to determine the winner.

Oddschecker.com, which reflects odds across a number of

betting platforms, had Trump at the equivalent of about a 62%

chance of winning and Harris at about 38%.

On the PredictIt platform, contracts for a Trump victory

traded at 61 cents, with a potential $1 payout. Harris contracts

were at 43 cents.

Polymarket has Trump with a 66% chance of winning and Harris

at 34%.

Bitcoin added 2.5%, extending recent gains. Trump has

positioned himself as pro-cryptocurrency.

Harris was traveling to Michigan on Monday to focus on the

economy, while Trump was heading to Georgia to shore up support

among religious voters.