"Bet on the US election," the ad for Kalshi said as Trump spoke on stage. "Bet $100 on Trump, Get $175." More than $100 million have been legally wagered on the presidential race on the platform, days out from Election Day.
Tarek Mansour, CEO of Kalshi, stated that his election market is a "mechanism for truth" and helps regular people hedge against unpredictable political risk. As of Tuesday, it shows a 63% chance of Trump winning.
Critics like Sen. Jeff Merkley have labeled the recent legal decision allowing betting on elections as a "huge mistake" that could undermine American democracy.
Wagering on the U.S. presidential election is nothing new; historical evidence suggests that betting markets have accurately predicted outcomes in the past, with a success rate of 73% between 1884 and 1940.
Collection
[
|
...
]