As Americans get ready to head to the polls in less than two months, a new court ruling appears to have opened the door for election-based prediction markets—sites that let bettors wager on the outcome of political races—to expand to the U.S. The ruling has implications not only for bettors but for Polymarket, a crypto-powered prediction market that has become a fixture in news reports about whether Donald Trump or Kamala Harris is likely to win the election.
Despite its popularity—including nearly $500 million in trading volume in August—Polymarket does not operate in the U.S. due to regulatory scrutiny from the Commodity Futures Trading Commission, the agency that oversees derivatives markets.
