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The Fox News Rundown

Business Rundown: The Election Betting Floodgates Are Open

The Fox News Rundown

FOX News Podcasts

Daily News, News, Politics

3.41.7K Ratings

🗓️ 25 October 2024

⏱️ 16 minutes

🧾️ Download transcript

Summary

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 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

When Kate and Jervais founded Health and Her in 2019, they set out to transform Menopause care.

0:06.4

Through Barclay's Eagle Labs, they gained specialist industry and business expertise,

0:11.0

with support and training for the whole team.

0:13.0

But the story doesn't end here.

0:16.0

Because Health and Her are only just getting started,

0:19.0

selling at major UK retailers,

0:22.0

and making a real difference to thousands of lives.

0:25.0

Grow your business.

0:27.0

Bank on Barclays.

0:28.0

Search Barclays business banking.

0:30.0

I'm Lydia Hu and this is the Fox Business Run Down.

0:33.4

Friday, October 25, 24.

0:42.4

Tens of millions of dollars have been wagered on the 2024 election, as a recent

0:48.1

legal victory has opened the floodgates for Americans to gamble on politics.

0:53.7

People are essentially putting their money where their mouth is.

0:56.7

And right now, as far as volume is concerned on Calshi,

1:00.7

you've seen a little over 71 million six hundred and fifty six thousand dollars put

1:07.0

toward this race election gambling has been illegal in the United States

1:11.0

until now earlier this month a DC federal appeals court

1:15.1

ruled in favor of the Financial Exchange startup Calshi which offered Americans

1:20.4

the first fully regulated election prediction market.

1:24.0

In just a few weeks, people have wagered millions on political contracts on the site,

...

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