September 13, 2024: This election season, all bets are on
Sep 13, 2024
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Declan Harty, a capital markets reporter, dives into the fascinating world of legalized sports gambling and its recent expansion into election betting. He and Eugene Daniels, co-author of Playbook, discuss a groundbreaking court ruling that paves the way for regulated election betting markets. They explore the implications for electoral integrity, concerns about voter turnout, and how betting can reshape political landscapes. With the first regulated election-betting platforms launching, they highlight both the risks and opportunities that lie ahead for American democracy.
Trump's refusal to participate in further debates reflects his strategic positioning and may impact voter engagement in the election.
The launch of regulated election betting markets raises concerns about potential manipulation and influence on election outcomes and public perception.
Deep dives
Trump's Stance on Debates
Former President Donald Trump has declared that he will not participate in any further debates with Vice President Kamala Harris, which followed their recent debate on Tuesday. Despite the Harris team extending an invitation for an additional debate, Trump made a definitive post on his social media platform, asserting there would be no third debate. This decision may reflect strategic positioning within the current political landscape as both parties gear up for the upcoming elections. The implications of Trump's decision on the political discourse and voter engagement will be closely monitored.
Emergence of Election Betting Markets
A recent ruling has allowed the financial exchange startup Koushi to begin offering regulated betting on congressional outcomes, making it the first major exchange to do so in the U.S. This development follows a judge's overturning of the Commodity Futures Trading Commission's prior rejection based on concerns related to federal law and election integrity. Koushi's platform differs from existing markets like PredictIt and Polymarket, as it operates as a registered financial institution under the oversight of the CFTC. However, there are growing concerns about the potential for manipulation or influence on elections through these betting markets, as they may provide avenues for bad actors to sway public perception and voter turnout.
Legalized sports gambling is everywhere. Could betting on elections be next? Americans will soon be able to legally gamble on the presidential election. After a judge rejected the Commodity Futures Trading Commission’s attempt to block it, financial exchange company Kashi launched the country’s first fully regulated election-betting markets on Thursday. Capital markets reporter Declan Harty walks Playbook co-author Eugene Daniels through what this means for the election, and why some officials are ringing alarm bells.
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