POLITICO · 2026-11-08 19:01 UTC

'The new crypto': Democrats' wins set prediction markets up for new scrutiny

Kalshi and Polymarket, the two dominant prediction market platforms, forecast Democrats' sweeping midterm victories, ahead of much of the pundit class. Trump's regulators have embraced prediction markets over the last two years, letting them expand quickly with new wagers on politics, sports and stocks. Democrats are preparing an aggressive oversight regime, and Sen. Jeff Merkley said Congress should rein in the gambling through legislation.

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