Millions of dollars are being wagered on the 2024 election after a pivotal court ruling this month paved the way for Kalshi, the first fully regulated prediction market in the U.S.

Now, Americans can place political bets on who will win the election, which party will take the Senate, the state with the narrowest margin of victory, and much more. Meanwhile, folks overseas have already been wagering tens of millions using the crypto betting market, Polymarket.

FOX Business correspondent Lydia Hu catches up with LA-based FBN correspondent Max Gorden to discuss how election betting became legal, the vast amounts being wagered, and fears surrounding its impact on our elections.

Photo Credit: AP

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Business Rundown: The Election Betting Floodgates Are Open