Is letting people bet money on U.S. election outcomes good or bad for democracy?
Prediction-market platform Kalshi, which lets users bet on outcomes including U.S. elections, has reached a roughly $40 billion valuation backed by Sequoia and Wellington as Americans vote in the Nov. 3, 2026 midterms.
The betting platforms called Trump 2024 and yesterday's Democratic sweep. They're challenging traditional polling on their predictive value. Can definitely see the value in that. Something about having your own money at stake that brings out the best wisdom of the crowd.
Interesting; maybe it's worth probing the demographics of those who use those things.