OPINION: As the 2024 race heats up, betting is growing for everything but elections

OPINION: As the 2024 race heats up, betting is growing for everything but elections

Article brief provided by The New York Times
  • Jeff Sommer, The New York Times
May 21, 2024 7:27 PM
  • Jeff Sommer, The New York Times

I can’t watch a basketball game on TV without seeing ads urging me to place a bet on one app or another. I can’t walk down the street in New York City without seeing ads about the latest lottery jackpot.

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And when I sit at my desk in the office, I spend hours studying another type of betting — trading in financial markets, where you can place wagers on companies, bonds, commodities and derivatives of all descriptions.

Yet the most consequential betting of all — wagers on elections in the United States — may soon be shut down by regulators.

The Commodity Futures Trading Commission has ordered a ban on such betting on the financial exchanges known as prediction markets, where it’s possible to make wagers on who will win the 2024 presidential election and on a host of other matters.