{"id":1603885,"date":"2024-11-04T15:08:55","date_gmt":"2024-11-04T20:08:55","guid":{"rendered":"https:\/\/www.sportscasting.com\/?p=1603885"},"modified":"2024-11-04T15:08:55","modified_gmt":"2024-11-04T20:08:55","slug":"polymarket-election-betting-best-alternatives-for-betting-on-trump-vs-harris","status":"publish","type":"post","link":"https:\/\/www.sportscasting.com\/news\/polymarket-election-betting-best-alternatives-for-betting-on-trump-vs-harris\/","title":{"rendered":"Polymarket Election Betting: Best Alternatives For Betting On Trump vs Harris"},"content":{"rendered":"
Betting outlets are taking last-minute wagers on the upcoming 2024 Election<\/a>, as the votes will begin to be tallied on Tuesday evening. There are plenty of options when it comes to sportsbooks and other betting sites, but there are some stark differences between them and how gamblers go about putting their money down.<\/p>\n One of the newest ways to wager on certain events is through something called an \u201cevent contract\u201d. According to one of the host sites, it is \u201ca financial instrument that allows users to trade on the outcome of real-world events. If the event occurs, the contract settles at $1. If it does not occur, the contract settles at $0\u201d.<\/p>\n Polymarket is one of the options for event contract trading for this year\u2019s election. Is it legal? And how does it work?<\/p>\n <\/p>\n Like its counterpart in Kalshi, Polymarket has seen a huge boost in activity for the upcoming election. The site itself is reporting that users have already placed over $3 billion in bets on the outcome of the Presidential race alone, with more expected in the hours leading up to Tuesday.<\/p>\n Users buy the contracts (or what Polymarket calls \u201cshares\u201d), which represent future outcomes. They are priced between $0.01 and $1.00, based on the odds and likelihood of the event. Winning outcomes pay out $1.00.<\/p>\n But according to an exclusive report by Fortune<\/a>, Polymarket activity exhibited signs of wash trading, a form of market manipulation where shares are bought and sold, often simultaneously and repeatedly, to create a false impression of volume and activity. It was found that around one-third of the entire trading volume surrounding the 2024 Election found signs of wash trading.<\/p>\nIs Polymarket A Legal Way To Bet On The 2024 Election?<\/h2>\n
Best Election Betting Sites In 2024<\/h3>\n