Prediction market users spend nearly $200 million on midterm election bets: Report
Prediction market users have wagered in excess of $197 million on midterm election results, according to NBC News.
The outlet analyzed 1,408 open markets on Kalshi and Polymarket for its report, published on Friday. On both platforms, users can bet on a variety of topics, including sports, global events and political elections.
As of Sunday evening, the most likely outcome in the November midterms is Democrats taking control of the Senate and House, according to Kalshi. The prediction market gives that outcome a 46 percent probability, with a GOP-controlled Senate and a Democratic-controlled House having a 38 percent chance of occurring.
Kalshi puts the odds of Republicans maintaining their narrow grip on both chambers at 17 percent, while the chances of Democrats flipping the Senate and Republicans keeping the House are just 1.7 percent.
https://thehill.com/policy/technology/5965133-kalshi-polymarket-midterm-predictions/