Story highlights Trump peaked on the Political Prediction Market Monday morning with odds at 48%

In Iowa, Trump's odds to win the state have increased from 28% to 54% this week

Washington (CNN) Less than a week out from the Iowa Caucuses, Donald Trump's chances for the Republican nomination are the highest among the GOP pack, at 46%, according to CNN's Political Prediction Market.

Trump peaked on the Political Prediction Market Monday morning with odds at 48%, almost beating Florida Sen. Marco Rubio's record, who had the highest chances for the nomination ever with 49% last November.

CNN's Political Prediction Market is a game, administered by the company Pivit, which allows Internet users to predict outcomes of the 2016 election. It also factors polls and other elements into its data, but the game is not to be confused with polls from real voters.

In Iowa, where the Caucuses will be held on Monday, February 1, Trump's odds have increased from 28% to 54% this week. Meanwhile, Texas Sen. Ted Cruz is a close second for the Hawkeye State with his chances at 46%.

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