00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Prediction markets Kalshi and Polly Market correctly forecast a democratic wave in the
00:07midterm elections, but missed several individual races, according to the Wall Street Journal.
00:13Democrats regained control of both the House and Senate, with the margin of victory exceeding
00:19traders' expectations. The platforms have promoted their ability to predict election
00:23outcomes more accurately than professional pollsters. Kalshi said its markets outperformed
00:29several election forecasting models by Election Day morning. Research showed that nearly 90%
00:35of bets exceeding $10,000 favored Democrats, while smaller wagers were more evenly divided.
00:41Kalshi reported more than $2.5 billion in trading volume during the election cycle,
00:47as bettors wagered on more than 200 markets. For all things money, visit benzinga.com.
