AI summary
Summary of article:
Fox reported that Kalshi’s predictions on whether the majority in Congress will change have exceeded market transactions by 1.2 billion, which is larger than the 2024 presidential election, and shows that players in different industries have significantly different tendencies to bet on the two parties.
Fox News exclusively reported on the 2nd that, according to data obtained by Fox News Digital, online betting transactions on the prediction market trading platform Kalshi regarding whether majority control of Congress will change have exceeded 1.2 billion, which exceeds the scale of predicting the outcome of the 2024 presidential election. Reports state that in the absence of a presidential election,midterm elections It was quite rare to see such a vibrant scene for online gambling in 2017.
Online betting differs from traditional surveys in that the forecast market fluctuates based on events such as candidate debates, fundraising, endorsements from powerful people, and breaking news. Therefore, forecasting markets have become a reference tool for various campaign teams and political observers to quickly interpret electoral changes.
Democratic challenger Troy Jackson in the Maine US Senate election received more money from players outside the state than from players in Myanmar, by about 61% to 36%, according to Kalshi Forum data.
Existencemichigan In the US Senate election, Democratic candidate Abdul El-Sayed received more betting funds from out-of-state players than from Michigan players, approximately 65% to 49%.
The report notes that this phenomenon means a small portion of online gamblers in Myanmar and Michigan are betting on the victory of the two Democratic candidates.
The Kalshi platform launched the “Midterms Hub” in July this year, which combines real-time market odds, polling averages, fundraising data, historical election results and political news for the House of Representatives, Senate and gubernatorial elections.
According to the data, 67.9% of online gambling players with a background in law enforcement placed bets on Republican candidates, which is the highest rate of support for the Republican Party across all industries.
Online gambling players from the culture, arts and entertainment industries showed the strongest tendency to support the Democratic Party when placing bets, with approximately 60.1% of their funds wagered on Democratic candidates.
Additionally, online gamblers engaged in the mining, energy and chemical-related sectors bet approximately 62.6% of their funds on Republican candidates. Education sector players bet 58.3% of their funds on Democratic candidates.
As far as players serving the legal and electronics sectors are concerned, the bets on candidates from both the parties are almost equally divided.
Summary FAQ
-
According to data obtained by Fox Digital News, Kalashi-related transactions have exceeded 1.2 billion, which is larger than the market predicting election results during the 2024 presidential election, indicating that the midterm elections are extremely popular.
-
Because in a midterm election year without a presidential election, online betting is still a rare fad; The prediction market fluctuates with debates, fundraising, endorsements and breaking news, so it is considered an important tool for real-time observation of the election situation.
-
Players with a background in the law enforcement sector placed 67.9% on the Republican Party, 60.1% in the culture, arts and entertainment industry placed on the Democratic Party; In the mining, energy and chemical sectors, about 62.6% voted for the Republican Party, and in the education sector, about 58.3% voted for the Democratic Party.
