The US presidential election has become a lucrative market for brokerages, with millions being made from bets on the outcome. Typically, bookmakers and exchanges favor the house, but a recent legal ruling has changed this dynamic.
A notable aspect of the 2024 presidential election is the significant betting activity surrounding it. This increase can be attributed to a court decision made earlier this year, which allowed exchanges to trade political event contracts. As a result, brokerages are now cashing in on the increased demand for wagers.
The shift in betting dynamics marks an interesting change in the way elections are perceived by the financial community. With this new market opening up, bettors and brokerages alike are reaping the benefits of the high-stakes game.
Source: https://www.marketwatch.com/story/brokerages-are-raking-in-millions-from-your-presidential-election-bets-c2516e9e