Kalshi releases more betting markets ahead of US election.
Prediction marketplace Kalshi has released more political betting markets in an eleventh-hour auction to lure users ahead of the November 5 US presidential election.
The contracts cover events from the Ohio referendum result to the last state called by the Associated Press (AP) in the presidential race, according to regulatory filings with the Commodity Futures Trading Commission (CFTC).
Since October 31, Kalshi has registered more than two dozen contracts, mostly related to the upcoming US election, according to CFTC data.
Source: Kalshi
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Kalshi's event contracts — winner-take-all financial derivatives known as binary options — are the first in the U.S. to allow traders to bet on election outcomes, including the race between Vice President Kamala Harris and Republican nominee Donald Trump.
From November 1, Kalshi's main market – “Who will win the presidential election?” – $144 million in total bet volume since listing on October 7, according to Kalshi's website.
Kalshi's odds heavily favored Trump in October — at one point giving Trump a nearly 65% chance of victory — but the margin has narrowed in the past 48 hours.
According to Kalshi, Trump has a 56 percent chance of winning the presidency, compared to Harris' 44 percent, as of Nov. 1.
Source: Polymarket
Kalshi is still playing with Polymarket, a Web3-native prediction market built on the Polygon network.
As of November 1, about 2.9 billion dollars will travel on the result of the November presidential election on Polymarket, on its website.
Polygon debaters are generally more bullish on Trump, and in 2018 In the year In the year In the year They put the probability at around 61%.
On October 28, Kalshi launched deposits in the popular stablecoin USD Coin (USDC) to attract more crypto-native users.
Now, more political betting platforms are joining the fray.
On October 28, cryptocurrency and stock trading platform Robinhood introduced contracts for certain users to bet on the outcome of the presidential election.
U.S. regulators say election prediction markets like Calci's threaten the accuracy of polls, but industry analysts say they often capture public sentiment more accurately than polls.
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