In a shocking development, the FBI announced Friday it is reopening the investigation into Hillary Clinton's email scandal. Although the news broke only an hour ago, election bettors have already adjusted their odds on the election's result.

Clinton's odds of winning the election are down 7 percentage points, according to ElectionBettingOdds.com. Trump's odds have risen by about 5 percentage points. Clinton is still a huge favorite to win the election, at 74 percent to Trump's 23 percent chance.

These are just preliminary changes, however. If polls conducted over the coming days show Trump gaining ground, the odds will swing even further in Trump's favor.

Keep in mind millions of ballots have already been cast. Those who wish to change their votes because of this development will be unable to do so.

Earlier this morning, around 8am, Trump had a less than 18 percent chance of winning the election. When the Clinton news initially broke, his odds jumped by 7 points, but they've already dropped 2 points from that spike.

The breaking development still hasn't put Trump back on the ground he was at before audio of his lewd comments from 2005 were released, when Trump had a 26 percent chance of winning, let alone his position before the first presidential debate, when Trump had a 36 percent chance of winning.

Jason Russell is the contributors editor for the Washington Examiner.