- In light of the heated contest for the Presidency of the United States of America (USA), Americans are gambling on the election’s thrilling outcome. This comes after a lift on the election betting ban by a U.S. District Court.
In light of the heated contest for the Presidency of the United States of America (USA), Americans are gambling on the election’s thrilling outcome. This comes after a lift on the election betting ban by a U.S. District Court.
Americans have dived headfirst into this venture as it is a path towards making political wagers of their own.
On this account, numerous sites have accelerated the exercise, stirring the stock exchange market waters. They include Kalshi, polymarket, Betfair, and Smarkets, among others.
In the quest to predict who sits in the Oval House and perhaps make dollars out of it, Americans have traded more than $100 million in election bets on Kalshi.
Despite several sites pointing at Trump’s victory, experts have trashed the predictions on the grounds that they don’t determine the election’s outcome. Professor and Burchfield Presidential Chair of Political Economy at Wake Forrest University, Koleman Strumpf, has weighed in on the matter, saying, “A market doesn’t delay information. A market doesn’t spin numbers. A market just gives you numbers.”
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Rajiv Sethi, a professor of Economics at Barnard College, Columbia University, has also drawn a thick line between the ongoing election betting and traditional political polling. “You can’t compare conventional pollsters to the outcomes of the betting markets, because conventional pollsters don’t give you a probability of victory for a candidate,” Rajiv opined.
With a tight gap between the Democratic and Republican columns and a ticking clock, Kamala Harris and Donald Trump hold onto the might of the American people (vote) to assume the 47th Presidency of the U.S.
Jill Stein, a physician who ran for the Presidency in 2016, has also shown interest in occupying the Oval Office. She has once again aligned her faith with the Green Party.
Cornel West, a political activist, philosopher and academic, has also showcased his political muscle and is running as an independent candidate.
Chase Oliver, a 2022 contestant for the Georgia state Senate seat, has also shown interest in the U.S. presidency under the Libertarian party. Claudia De la Cruz will also be on the ballot on Tuesday, November 5, 2024.
