Political News and Conservative Analysis About Congress, the President, and the Federal Government
Robinhood, which boasts more than 20 million users, said in a Monday news release that it has launched election contracts. Event contracts allow people to bet on either Vice Presidentduring this election cycle. Polymarket and PredictIt have been two of the heaviest hitters, but Robinhood moving into the space could be a big deal, given the number of people who use the brokerage platform.
Each share is priced based on bets for and against it on a scale from $0.00 to $1. Those share prices also imply probability. So if a Harris share is valued at 34 cents , it implies she has a 34% chance of being the Democratic nominee. Users can swing the odds in markets with low trading volume by buying large numbers of Trump or Harris shares, changing the implied odds.
Koleman Strumpf, a professor at Wake Forest University who is an expert in political betting markets and has studied them for decades,over the summer that betting markets contain valuable information because people on the platform have skin in the game and tend to do research. “It’s not a crystal ball, like the stock market isn’t a crystal ball, but it wraps up the opinion of a lot of people who generally are pretty smart with the idea that, why are they smart? Because they are putting money on the line,” Strumpf said.On PredictIt, shares of Trump were going for 61 cents on Monday morning. On Polymarket, where there is $2.2 billion in volume, bettors are assessing a 66% chance of a Trump victory in November.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fall 2024 Winter 2025 2024 / 2025 » Fashion AllureLatest Fashion Trends, Shoes and Accessories, Celebrity Style
Read more »
Top Fall 2024 / Winter 2025 Shoe Trends 2024 / 2025 » Fashion AllureLatest Fashion Trends, Shoes and Accessories, Celebrity Style
Read more »
Top Fall 2024 / Winter 2025 Bag Trends 2024 / 2025 » Fashion AllureLatest Fashion Trends, Shoes and Accessories, Celebrity Style
Read more »
2024 United States Grand Prix 2024 Odds, Picks & Predictions: Norris Keeps Gaining on VerstappenLando Norris and Oscar Piastri are slotted ahead of 3-time United States Grand Prix winner Max Verstappen in the opening odds for this year's race.
Read more »
Spurs Starter, October 21, 2024: Spurs Introduce 2024-25 Season RosterYour daily briefing on what's going on with the San Antonio Spurs, including news, draft and more.
Read more »
Amazon Kindle Paperwhite Signature Edition (2024) vs. Kindle Paperwhite (2024): Which wins out?Amazon has just launched new Kindles, but should you pay $40 more for the Amazon Kindle Paperwhite Signature Edition (2024) over the Kindle Paperwhite (2024)?
Read more »