Trump Win Boosts Prediction Markets That Nailed Election Outcome
Betting websites that allow wagers on political outcomes had the former president as a heavy favorite leading into Tuesday’s vote, even as traditional polls showed a razor-thin margin.
Onlookers watch a broadcast of Donald Trump addressing his election night watch party in New York.
Photographer: Mark Abramson/BloombergThis article is for subscribers only.
As Donald Trump’s victory in the US presidential election became clear Wednesday, so too did the power of betting websites to predict political outcomes.
For weeks leading up to the contest, prediction websites were cited — and often questioned — for showing the former president as a heavy favorite over Kamala Harris, even as poll after poll pegged it as a toss-up race. In the end, the betting markets won.