US midterm election betting races past 2024 congressional total, data shows
Betting on November's U.S. midterm elections has already hit $133 million, surpassing the $92.4 million wagered during the 2024 congressional election cycle, the Anti-Corruption Data Collective said on Monday. The non-profit research and advocacy group forecast that total wagers on the 2026 midterms could reach $1.6 billion if betting activity accelerates at the same pace as it did in 2024. The…
Betting activity on U.S. midterm elections reached $133 million as of Monday, edging past the $92.4 million wagered during the 2024 congressional election cycle, according to the Anti-Corruption Data Collective (ACDC). The non-profit research and advocacy group predicts that the total wagers on the 2026 midterms could soar to $1.6 billion if betting trends continue at the same rate as in 2024.
This surge in prediction markets highlights the rapid expansion of platforms like Polymarket and Kalshi, which enable users to bet on various outcomes, including politics, economics, and popular culture. While the growth has been driven by both retail and institutional participants, it has also drawn heightened regulatory attention.
Critics argue that these platforms function as gambling, while proponents maintain that they are financial markets, offering users the chance to hedge risks or trade on their perspectives of future events. ACDC examined 7,466 markets related to the 2026 U.S. House and Senate races in its analysis.
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