10/17/2026
Betting on elections? It’s already a multimillion-dollar business. Prediction markets let people put money on who wins races and controls Congress. Now states are fighting to shut them down, warning that gambling on democracy could undermine public trust. The platforms say they’re operating legally. Who gets the final say?
On a Friday morning, the prediction market platform Kalshi gave the Democratic candidate in Minnesota’s U.S. Senate race an 87% chance of winning. The volume of trading on the outcome