Politics nerds rejoice: You can now legally bet on elections.
After a protracted legal battle, earlier this month the financial exchange Kalshi secured a court ruling that allowed it to accept American wagers on political outcomes. The decision is a major victory for “prediction markets,” online platforms that let users bet on all kinds of future outcomes. On Kalshi, for example, users can now gamble not just on whether Donald Trump will win over Kamala Harris in next week’s presidential election but on who will be nominated at the Oscars, what mortgage rates will be next quarter, and when George R. R. Martin will finally release the next Game of Thrones book.
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