Wednesday marked some major movement in the political betting markets. There are several platforms that people can use to place wagers on elections and other political drama, among them online sites PredictIt, Polymarket, and Betfair.
As of Wednesday afternoon, a share of Biden was going for 40 cents and a share of Harris was going for 43 cents. So if you wanted to bet that Harris will end up being the nominee, you could buy shares at 43 cents, and then, if the bet ends up coming true and she does win, you would end up getting $1 for each share you bought, meaning you would net a 57-cent return on investment for every share.
“They’ve been around in one shape or another for almost the entire history of the country,” he told the. “So, you know, not electronic, but people literally betting outside the stock exchange in New York on these elections.” Basically, if someone is going to shell out $1,000 on their opinion, he or she is likely to spend a lot more time researching and assessing that opinion.