Trump Win Boosts Prediction Markets That Nailed Election Outcome

As Donald Trump’s victory in the US presidential election became clear Wednesday, so too did the power of betting websites to predict political outcomes.

For weeks leading up to the contest, prediction websites were cited — and often questioned — for showing the former president as a heavy favorite over Kamala Harris, even as poll after poll pegged it as a toss-up race. In the end, the betting markets won.

And with the election seen, particularly in finance circles, as a referendum on the relative power of polls and these platforms, betting websites will now no doubt take on an even greater air of market-powered invincibility. ...