Private Prisons and Political Bets: The Trump Factor

Private prison companies are heavily investing in political outcomes, particularly aligned with former President Donald Trump's policies. These companies, notably GEO Group and CoreCivic, benefit from the Trump administration's approach to mass deportation. Despite Biden's efforts, federal reliance on private prisons hasn't diminished significantly.

Private prison firms are strategically placing bets on political outcomes, with their fortunes closely tied to former President Donald Trump. Companies like GEO Group and CoreCivic stand to benefit significantly from Trump's policies on mass deportations. Federal use of private prisons has not markedly decreased under President Joe Biden.

These companies have been substantial financial backers of Trump's campaign, anticipating favorable policies. GEO Group, for instance, saw a significant rise in its stock value following Trump's election. The promise of mass deportations necessitates an expansion of privately run detention centers, reinforcing these companies' investments.

While Biden pledged to reduce federal dependence on private prisons, loopholes and local contractual arrangements have kept them entrenched in the system. Advocates remain hopeful for a shift, but as surveillance and monitoring technology expand, profits for these firms continue to grow.

(With inputs from agencies.)