As voters cast ballots this election, some Americans are placing bets. Here’s what to know
CNN
While gamblers outside of the United States have long been able to place bets on who will win the White House, in a historic shift this election cycle, Americans can make political wagers of their own.
While gamblers outside of the United States have long been able to place bets on who will win the White House, in a historic shift this election cycle, Americans can make political wagers of their own. More than $100 million in election bets have been traded on Kalshi, a federally regulated prediction market that was given the green light to offer election betting after a federal appeals court in Washington, DC, this month upheld a lower court’s order that made way for legal political gambling. Other platforms in the US have begun to offer election-related bets in the wake of the ruling. The election markets have not gone unnoticed by the Republican Party’s presidential nominee, Donald Trump, who has touted his odds on social media and at campaign events. “You see we’re up in the polls pretty substantially. They have a new thing, a new phenomena, and that’s gambling polls,” the former president said at a stop in Michigan on October 18. “I don’t know what the hell it means, but it means that we’re doing pretty well.” The final nationwide CNN poll before votes are counted showed Trump and his Democratic rival, Vice President Kamala Harris, in a deadlocked race for the White House. While the platforms have marketed their odds as election forecasts and claim that they allow their users to hedge their bets on different outcomes, the Commodity Futures Trading Commission, which sought to block Kalshi’s political contracts, has warned that they could degrade public perception of the democratic process.
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