Originally published on: November 07, 2024
Engage in the thrill of political prediction with Kalshi as they introduce new betting markets post the recent presidential election. From speculating on President-elect Donald Trump’s administration choices to predicting the likelihood of impeachment during his term, Kalshi’s offerings promise an exciting ride for the politically inclined.
Political prediction platforms saw a surge in activity leading up to the US elections, with the total betting volume approaching a whopping $4 billion by election day, as reported by Cointelegraph. While Web3-native Polymarket took the lead with $3.3 billion in betting volume, Kalshi, a US-based derivatives exchange, skyrocketed in popularity after unveiling political event contracts on Oct. 7.
With its flagship market for the US presidential election exceeding $250 million in trading volume, Kalshi made waves in the prediction market scene. Embracing crypto-native users, they began accepting deposits in USD Coin (USDC) on Oct. 28, catering to a wider audience seeking to engage in speculative trading.
Kalshi’s range of betting markets isn’t limited to US politics; they now offer contracts for elections in Canada and Ireland, diversifying the options for bettors seeking to test their political forecasting skills. Additionally, their landmark court victory against the CFTC allowed them to list and trade election odds, setting a precedent for other platforms to enter the market.
While the CFTC expressed concerns about the impact of prediction markets on election integrity, industry analysts argue that these platforms often provide a more accurate reflection of public sentiment than traditional polls. Kalshi’s favorable odds for a Trump victory before the polls closed showcase the platform’s ability to capture the pulse of political events.
Join Kalshi in the world of political betting and embrace the excitement of speculative trading on the global stage. Don’t miss out on the action – place your bets and test your political foresight today!
