More than $1.4 billion: The betting market goes crazy for the midterm elections

More than $1.4 billion has been wagered on the outcome of the US midterm elections. A young man from New York could earn $30,000, and the Democratic futures index rose by 2.38% compared to 0.14% for the Republicans.

More than $1.4 billion has already been wagered on the outcome of the US midterm elections, according to a report in Ma'ariv. A young man from New York named Pozer could earn up to $30,000 after betting on significant gains for the Democratic Party. Pozer developed a quantitative model for trading in prediction markets, based on his experience on Wall Street. Prediction markets allow buying and selling contracts on future outcomes and gained significant exposure after signaling Donald Trump's victory in 2024. The Democratic futures index rose by 2.38% in the past week, compared to 0.14% for the Republicans. Las Vegas is also joining the trend, despite opposition from the traditional casino industry. The headline uses the word 'crazy' while the body describes relatively moderate increases.