Election betting faces broad US resistance, Reuters/Ipsos poll finds

Shafaq News- Washington

Most Americans are uncomfortable with the idea of betting on US elections, military actions, and government decisions, a Reuters/Ipsos poll found, pointing to broad bipartisan skepticism toward the fast-growing prediction market industry.

The survey showed that 69% of Democrats and 61% of Republicans opposed betting on election results. Opposition was also strong when it came to government affairs, with 65% rejecting wagers on US military actions and 63% opposing bets on government policy announcements or decisions, according to Reuters.

Concern was even higher over lawmakers and their staff taking part in political betting. The poll found that 93% of Democrats and 89% of Republicans considered such activity inappropriate. Policymakers have warned that prediction markets could create opportunities for insider trading or allow confidential government information to influence wagers.

Polymarket and Kalshi, two of the industry’s biggest platforms, say they have safeguards in place and argue that prediction markets can provide useful forecasts. Reuters noted that the industry is also at the center of a regulatory dispute over whether these contracts should be treated as financial products under federal oversight or as gambling under state law. Three-quarters of respondents said betting on real-world events amounts to gambling.

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