Bookmakers raise Trump's chances of winning Nobel after Kim summit
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Two of the United Kingdom's largest bookmakers have cut the odds on bets that President TrumpDonald John TrumpTrump rallies in Nevada amid Supreme Court flurry: 'We're gonna get Brett' Trump: 'Good news' that Obama is campaigning again Trump boosts Heller, hammers 'Wacky Jacky' opponent in Nevada MORE lands the Nobel Peace Prize after his landmark summit with North Korean leader Kim Jong Un on Tuesday.

Ladbrokes increased Trump's chances of winning the prize, either alone or jointly, from 10/1 to 6/4 in the wake of the summit. And betting company William Hill is now giving the president a 7/4 shot of winning the prize in either 2018 or 2019.

Trump sat down with Kim on Tuesday for the first meeting between a sitting U.S. president and North Korean leader in history.

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The meeting in Singapore culminated with the two leaders signing an agreement that commits the U.S. to offering unspecified "security guarantees" for North Korea in exchange for the denuclearization of the Korean Peninsula.

The exact terms of that agreement remain murky. But, in what appeared to be a significant concession to Pyongyang on Tuesday, Trump announced that he would suspend joint military drills with South Korea.

Trump also praised the North Korean leader during the summit and vowed to meet with him again "many times." He even extended an invitation for Kim to visit the White House, and said that he would go to Pyongyang at some point.

A group of Republican lawmakers has nominated Trump for the Nobel Peace Prize for his efforts to bring North Korea to the negotiating table — a stunning turnaround from last year, when Washington and Pyongyang found themselves locked in a bitter war of words and threats that some feared could lead to nuclear war.