Republican presidential nominee and former President Donald Trump speaks at a campaign rally at Madison Square Garden on Oct. 27 in New York City.
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Michael M. Santiago/Getty Images
An election betting advertisement flashed on screen during coverage of former President Donald Trump’s rally at Madison Square Garden this weekend on the Right Side Broadcasting Network, a conservative media company.
“Bet on the US election,” the ad for Kalshi said as Trump spoke on stage. “Bet $100 on Trump, Get $175.”
More than $100 million has been legally wagered on the presidential race on the platform, days out from Election Day. This explosion in legal betting comes after a federal appeals court earlier this month allowed KalshiEX LLC, an online-betting company, to open an election prediction market.
The company’s CEO, Tarek Mansour, told NPR his election market — which shows a 63% chance of Trump winning as of Tuesday — is a “mechanism for truth” and help regular people hedge against unpredictable political risk. But critics like Sen. Jeff Merkley, D-Ore., have called the legal…
