‘Prediction markets’ set to pay out $450M to election bettors

Quick Summary:

Following Donald Trump’s election victory, thousands of bettors now anticipate a potential $450 million payout from online betting sites, says Reuters.

If Trump is determined the winner of the popular vote, he’ll reportedly walk away with $80 million.

Backers in Kalshi, a venture-backed exchange that invites people to bet on the outcomes of cultural events, plainly saw what was coming.

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Article Details

Author / Journalist: Connie Loizos

Category: Technology

Markets: United States

Topics: Polymarket Prediction markets Donald Trump Kalshi In Brief

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-07 @ 00:02:01 (2 weeks ago)

News Timezone: GMT -5:00

News Source URL: techcrunch.com

Language: English

Article Length: 177 words

Reading Time: 1 minutes read

Sentences: 7 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © TechCrunch

News ID: 23454384

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