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The Texas Reporter > Blog > Business > Prediction markets abruptly surge towards Trump as first election outcomes are available
Business

Prediction markets abruptly surge towards Trump as first election outcomes are available

Editorial Board
Editorial Board Published November 6, 2024
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Prediction markets abruptly surge towards Trump as first election outcomes are available
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Prediction markets abruptly surge towards Trump as first election outcomes are available

Betting markets took a pointy flip towards Donald Trump on Tuesday night time as the primary states had been referred to as within the presidential election.

Deep pink Kentucky, Indiana, and West Virginia had been referred to as for Donald Trump, and deep blue Vermont was referred to as for Kamala Harris as polls in these states closed.

Based on Kalshi, Trump’s odds of successful jumped to 62% from 57% at the beginning of the day. On PredictIt, a contract for Trump successful the election leapt to 60 cents from 54 cents on Monday. On the brand new IBKR Forecast Dealer from Interactive Brokers, Trump’s odds soared to 72% from 59% at the beginning of the day.

Polymarket, a crypto-based prediction market, confirmed Trump’s probabilities had shot as much as 70% Tuesday night from 62% early within the morning.

In the meantime, monetary markets have additionally began to cost in a Trump victory, because the greenback, Treasury yields, Bitcoin, and shares of Trump Media and Expertise took off in after-hours buying and selling.

Final week and over the weekend, prediction markets had proven robust momentum for Harris, who even took the lead briefly on a number of exchanges.

Bolstering Harris’s prospects was Saturday’s intently watched Des Moines Register/Mediacom Iowa Ballot carried out by Selzer & Co. that confirmed Harris main Trump 47% to 44% amongst possible voters.

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