Election Betting Loses Share as Sports and Crypto Rise
Prediction markets such as Kalshi and Polymarket have grown more than twentyfold since October 2024. Election betting is losing its share of trading, while sports and crypto are drawing more traders ahead of the US midterms, and concerns about manipulation remain.
Context
Prediction markets let people trade on the outcome of events, and Kalshi and Polymarket are the best-known platforms for this in the US. Election betting has been a small but controversial part of this growth, which has drawn scrutiny because of its link to public events.
Burning Potato score: 52%