This article is about blockchain, business, and technology news. Here’s the summary:
Kalshi aims to keep user engagement high after the November 5 presidential election by expanding its betting markets on US political events. According to regulatory filings with the CFTC, the contracts cover a range of outcomes, from how Trump will shape his administration to whether he will be impeached during his presidency.
Interest in political prediction platforms has surged ahead of the US election, with presidential race-related betting volume approaching $4 billion. Polymarket stands out with $3.3 billion in betting volume, while Kalshi has also gained popularity by offering political event contracts.
Kalshi has seen over $250 million in trading volume since launching political event contracts on October 7. It began accepting deposits in USD Coin (USDC) on October 28. It also added betting contracts on election results outside the US.
Kalshi became the first platform to be allowed to operate an election prediction market in the US after winning a lawsuit against the CFTC in September. This has paved the way for rival platforms to enter the market. Robinhood and Interactive Brokers have also launched similar betting markets.
The CFTC criticized the court ruling that allowed Kalshi to list election odds. But industry analysts say such markets can capture the pulse of public opinion more accurately than polls. Kalshi puts Trump’s probability of winning at 58%.
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