An election betting advertisement aired during former President Donald Trump's rally at Madison Square Garden, promoting Kalshi's platform. The ad offered a $175 return on a $100 bet for Trump. Legal wagers on the presidential race have surpassed $100 million following a federal court ruling that allowed Kalshi to launch an election prediction market. CEO Tarek Mansour argues this market offers transparency and an avenue for risk hedging, while critics warn it undermines democratic values. As Election Day approaches, Kalshi's market indicates a 63% chance of Trump winning, igniting debate on the implications of betting in politics.
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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02An election betting advertisement aired during former President Donald Trump's rally at Madison
00:06Square Garden, promoting Kalshi's platform. The ad offered an $175 return on a $100 bet for Trump.
00:14Legal wagers on the presidential race have surpassed $100 million following a federal
00:19court ruling that allowed Kalshi to launch an election prediction market.
00:23CEO Tarek Mansour argues this market offers transparency and an avenue for risk hedging,
00:29while critics warn it undermines democratic values.
00:32As Election Day approaches, Kalshi's market indicates a 63% chance of Trump winning,
00:37igniting debate on the implications of betting in politics.
00:40For all things money, visit Benzinga.com slash GSTV.