Betting on election outcomes is now legal in the U.S., and as easy as wagering for a sports team to win. But experts warn against mistaking betting markets for polls.
A handful of companies, including Kalshi and Interactive Brokers, have been allowing users to tap their way to wagering on Donald Trump or Kamala Harris to win the election. Just days before the election, even stock-trading platform Robinhood jumped in on the party, offering a betting market of its own. The companies set their own betting limits, with Kalshi letting users wager as much as $100 million.
“We believe event contracts give people a tool to engage in real-time decision-making, unlocking a new asset class that democratizes access to events as they unfold,” Robinhood said in a statement Monday.
