Billionaire Peter Thiel-funded Polymarket, an online crypto-based prediction market that accepts bets on electoral outcomes (among other things) is expected to have $1 billion wagered on the presidential race between Donald Trump and Kamala Harris by election day.
That may be a record for election wagering, but betting on politics is nothing new. Wagering on election outcomes is probably as old as elections themselves, and was particularly popular in the United States until it was outlawed.
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