{"id":3198,"date":"2024-10-16T14:46:38","date_gmt":"2024-10-16T14:46:38","guid":{"rendered":"http:\/\/bnchmrk.me\/?p=3198"},"modified":"2024-10-17T00:58:26","modified_gmt":"2024-10-17T00:58:26","slug":"us-election-betting-surges-following-historic-court-ruling","status":"publish","type":"post","link":"http:\/\/bnchmrk.me\/index.php\/2024\/10\/16\/us-election-betting-surges-following-historic-court-ruling\/","title":{"rendered":"US election betting surges following historic court ruling"},"content":{"rendered":"
Prediction markets can now enable wagers of up to $100 million on either Kamala Harris or Donald Trump<\/strong><\/p>\n<\/p>\n Election betting in the US has seen a sharp rise after a court ruling lifted restrictions on the practice, allowing platforms to accept substantial stakes on the presidential race between Republican candidate Donald Trump and his Democratic rival, Vice President Kamala Harris.<\/p>\n This surge follows a legal victory by trading platform Kalshi, which successfully challenged a US regulator\u2019s opposition in court last week.<\/p>\n The company, which is now cleared to operate, allows investors to bet up to $100 million on the outcome of the November election. The platform is currently forecasting a tight race, with trends indicating a slight lead for Trump over Harris.<\/p>\n The legal battle came to a head when the Commodity Futures Trading Commission (CFTC) attempted to block Kalshi, arguing that election betting could harm democratic integrity by resembling gambling. However, a Washington court ruled in favor of the platform, citing insufficient evidence of potential harm. The CFTC\u2019s appeal of the decision is ongoing.<\/p>\n Since the ruling, Kalshi has reported over $12 million in bets, with founder Tarek Mansour noting efforts to attract more traders, including institutional investors. \u201cWe\u2019ve seen strong early interest, but we expect volumes to climb as election day approaches,\u201d<\/em> Mansour said.<\/p>\n \n Read more<\/strong><\/span><\/p>\n