As election day nears, however, Trump's victory odds have faded, and Harris even retook the lead on one platform this weekend. Betting markets have surged in popularity during this election campaign.
Polymarket put Trump's chances at 58% on Monday, down from 67% last week; Kalshi put them at 53%, down from 65%. Another platform priced Harris's odds as greater than Trump's for the first time in almost a month.
While the polls pointed to an incredibly close contest for the White House, a few weeks ago betting platforms put Trump clearly ahead. A striking poll in Iowa unexpectedly put Harris ahead of Trump.
Buying a contract like the prospect of a Harris, or Trump, presidency drives the price of that contract, or the perceived probability of it happening, higher.
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