American Elections: Legal Betting on the Presidential Race Explained

Legal Landscape of American Elections Shifts

In a landmark ruling on October 3, an Appeals Court clarified the legality of betting on the outcomes of American elections, alongside the decision over a complaint from the Commodities Futures Trading Commission (CFTC). This pivotal ruling has significant implications for electoral integrity perception.

Kalshi's New Presidential Betting Market

• Kalshi, now authorized to operate betting markets, has swiftly launched its platform for wagering on the presidential election.
• Betting on candidates like Donald Trump and Kamala Harris is now a reality for participants interested in the electoral outcome.

The Growing Trend of Electoral Betting

With platforms like Kalshi and Polymarket gaining traction, the trend of betting on elections has seen a significant rise. Polymarket, known for allowing users to wager on various future events, provides a space for users to predict election results, economic indicators, and cultural moments.

Controversies Surrounding Prediction Markets

Despite their growth, these markets have faced scrutiny. Instances of alleged betting manipulation were reported, particularly concerning shares for Kamala Harris and Donald Trump during the recent election cycle.

The Thrill of the 2024 Presidential Race

This election cycle is shaping up to be incredibly competitive. Following President Biden’s departure from the race, Vice President Harris appears as a strong contender, generating intense public interest in the odds.

Dynamics of Prediction Markets

As tracked on Polymarket, early frontrunner Donald Trump experienced fluctuating support throughout the summer, with Kamala Harris pulling ahead in the closing months to create a thrilling electoral race.