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Prediction markets vs. polls: Who got the election right?
Online prediction markets Kalshi and Polymarket project a 75 percent chance that Democrats will win control of both the House and Senate. Bettors expect Democrats to sweep all seven key Senate races watched by political gamblers.
Kalshi bettors have poured $73 million into the market, reflecting a Democratic shift. The Daily Beast attributes this to President Donald Trump's 32% approval rating, confirmed by recent Reuters and Ipsos polling data.
Michigan Democrat Abdul El-Sayed holds a 78% chance of victory, while Texas Democratic nominee James Talarico projects 73%. Kansas Democrat Adam Hamilton and Maine's Troy Jackson also lead their Republican opponents in specific Senate contests.
Speaking Monday, President Donald Trump offered a gloomy assessment, stating, "But we gave this a very strong shot." Polling indicates 9 percent of voters who backed Donald Trump in 2024 now plan to vote for Democratic candidates.
While prediction markets aren't election results, Iowa remains a rare bright spot for Republicans. Alaska's Senate race has become a political circus with two Republican candidates named Dan Sullivan competing on the ballot.