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Polymarket and Kalshi were big winners of the election. But can they maintain their momentum until 2028?
Since then, the 2024 election catapulted Polymarket into prominence when its users correctly predicted Donald Trump’s victory, and a gutsy legal gambit from its competitor, Kalshi, paved the way ...
After all, he did the same thing following the 2020 election, which led to recounts and the Jan. 6, 2021, insurrection at the U.S. Capitol. That means having clearcut election results tomorrow ...
Founded in 2020 by Shayne Coplan, [3] Polymarket is a prediction market that allows users to gain/lose on the outcome of world events. [4] In January 2022, Polymarket was fined US$1.4 million by the Commodity Futures Trading Commission (CFTC), and received a cease and desist order for regulatory violations, including failure to register as a Swap Execution Facility.
The 2024 election was filled with new and unprecedented developments in the history of American electoral politics: A sitting President was pushed out of the race by his own party.
A federal appeals court sided with Kalshi on Oct. 2, paving the way for Americans to start trading on political races just one month ahead of the election. Kalshi has Trump at 57% and Harris at 43%.
The betting site Polymarket has emerged as a hot topic in the 2024 presidential race. Trump's odds of winning are at 66% there based on bets. National polls generally show the race tied.
While Kalshi's trading volumes are not public like Polymarket's, they likely pale in comparison, with Bloomberg reporting that Kalshi did about $10 million a month in trading in April 2023, though ...