Wanna bet? Election wagers provide key insight into results, face regulatory threat

After President Joe Biden dropped out of the 2024 presidential race, many have looked to the betting markets for insight on who is teetering toward victory, as opposed to relying on traditional polls. The federal government is trying to restrict election betting over concerns about influencing election results.

Over $5 million has been wagered on the 2024 election, according to Election Betting Odds. The site, run by Maxim Lott and John Stossel, uses data from the largest exchanges offering election futures contracts.