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Industry
May 24, 2024
UK Bettors Believe Labour Party Will Oust the Conservatives
In a development that took many aback, British PM Rishi Sunak called a snap election on May 22. While Sunak’s decision demonstrates clear confidence in the current government, political bettors aren’t so convinced that the Conservatives will be able to remain in power. Sunak’s gambit comes amid declining support for the Conservative Party. The Conservatives’ […]
Industry
May 24, 2024
Bettors Engage with UK General Election, Wager £1.35M on Betfair Exchange
As the UK General Election campaign kicks off, betting markets have seen an unprecedented surge in activity. In just 24 hours, Bettors have wagered a staggering £1.35 million ($1.71 million) on the Betfair Exchange regarding the outcome of the 4 July vote, which may be instrumental in resolving the island nation’s ongoing political crisis. Conservatives […]
Casino
May 20, 2024
Donald Trump Secures the Republican Jewish Coalition’s Backing
Donald Trump has secured the backing of the Republican Jewish Coalition (RJC) ahead of the upcoming elections. As announced, the non-profit has pledged to contribute $5 million to Trump’s reelection. The RJC’s ambition is to forge a meaningful relationship between the Jewish community and Republican lawmakers. The organization’s overarching aim is to foster favorable relations […]
Business
May 15, 2024
Polymarket Closes Another Round, Sees Funding Surpass $70 Million
Polymarket is known as the world’s largest prediction market, which offers trading on highly debated topics, including politics, sports, crypto, current events and many others. The markets offered address a growing demand for wagers not only on popular sports events but real-world events. Such wagers are recognized across the United States as “event contracts.” Despite […]
Industry
May 13, 2024
CFTC Considers Banning Derivative Betting on Sports and Elections
Ahead of the presidential elections in the United States, a financial regulator has moved closer to implementing a ban on derivatives for betting on political contests and sports. Although it remains unclear if the ban would be implemented in time or if at all, in case this happens, bettors looking to place wagers on the […]
Industry
February 12, 2024
Betfair: Biden’s Reelection Chances Plummeted after Hazy Memory Report
Political bettors seem to be losing their trust in President Joe Biden’s ability to win the upcoming election, as demonstrated by Betfair. According to the betting exchange, Biden’s odds plummeted following an official report about the president’s waning memory. In a response to the Justice Department report into Biden’s mishandling of top secret documents, the […]
Industry
November 10, 2023
PredictIt Bettors Impressed by Haley and DeSantis’ Performance at the Debates
PredictIt bettors seem confident in Nikki Haley and Ron DeSantis’ positions following Wednesday’s debate. At this point, both of them have a chance to grab the party’s nomination, political bettors believe. One of the highlights of Wednesday’s debate was the heated quarrel between Haley, a former ambassador to the United Nations and Vivek Ramaswamy, the […]
Industry
October 5, 2023
Betfair Bettors Believe Rishi Sunak May Lose 201+ Seats
Betfair, an international betting exchange that offers wagering on politics, said that British bettors believe the Conservatives are losing their momentum. According to statistics, customers believe that the party may lose a whopping 201 seats or more at the next general election. While Betfair customers wouldn’t be necessarily right, they have previously correctly predicted certain […]
Industry
September 26, 2023
CFTC Rejects Kalshi’s Congressional Betting Proposal
In addition to sports betting, placing wagers on different events has been gaining popularity over the last few years. Along with that, came attempts to place wagers on political outcomes, an activity that is criticized rightfully given its nature. Back in 2020, KalshiEX LLC became the first regulated financial exchange dedicated to trading event contracts. […]
Industry
August 8, 2023
Concerned Lawmakers Speak Against Betting on Political Outcomes
Betting on political events is a relatively new activity that has seen some popularity recently. Similar to sporting events, election market bets for political events can favor one candidate or another. In some cases, bettors can wager how far a candidate may go through a political campaign or when they may drop off. In sports, […]
