Election odds are coming to your TV this fall. 60% of Americans oppose betting on elections

As midterms approach, 60% of Americans oppose betting on elections through prediction markets, according to a Reuters/Ipsos poll. CBS News, owned by Skydance alongside CNN, plans to display real-time odds from Kalshi alongside its own polling during the midterms. Kalshi, CNN, and CNBC have partnerships, licensing vote counts via the Associated Press.

However, only 7% of respondents admitted to using prediction markets for betting. "Most view prediction markets as gambling, not a suitable way to predict elections or government decisions," Alec Tyson, a senior pollster at Ipsos, stated. The poll, with a 1.5% margin of error, found opposition across party lines, with 69% of Democrats and 61% of Republicans against election betting.

Despite this, monthly global trading volume on Kalshi and Polymarket more than doubled from $26 billion in May to $53 billion in July, driven by sports markets' frequent events and fast-changing odds. Kalshi criticized the poll for its phrasing and description of prediction markets, while Ipsos, the pollster, did not respond to criticisms about wording and inclusivity of responses.