BILLION-DOLLAR DUMP

Election Betting Platforms Racked Up Billions of Dollars in Bets

Polymarket, a betting platform that does not allow U.S-based users to wager on election results, appears to have been a big winner

Election betting platforms raked in billions of dollars from users who put their hopes on Kamala Harris winning the election, NBC News reported. Polymarket, the controversial crypto platform which Elon Musk used as evidence for Donald Trump’s polling figures despite not allowing U.S. users, received over $3.6 billion in bets. Some $1 billion alone was wagered on Vice President Kamala to win the election. Another betting platform that allows U.S. users to stake their hopes, Kalshi, also received hundreds of millions of dollars worth of bets on results in specific states, with bets on the outcome in Pennsylvania beating other states. “There’s not that much interest in ‘Will the Republicans win Alabama?’ or ‘Will the Democrats win California?’ People are kind of interested in the states that are going to decide the election,” Eric Zitzewitz, an economics professor at Dartmouth University, told NBC News.