Kamala Harris is leading in the polls, showing a huge turn of affairs. The sudden momentum shift towards Kamala Harris is more like a 'ferocious comeback', according to Thomas Peterffy, founder and chairman of Interactive Brokers.
Forecast Trader is one of those leading betting markets in the United States that has some steady influence on the US elections, and the Wall Street too looks up to this betting market avidly. While other betting markets like Polymarket are rooting for a Trump win, according to their stats, Forecast Trader is predicting that Kamala Harris holds the majority of the cards for a win in the upcoming US elections, that starts off in a few hours.
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Even though there are concerns that betting markets could influence the outcomes of the US elections as real money is involved here, Peterffy is not of the same opinion in this case, as he claims that prediction markets are also regulated by the Commodity Futures Trading Commission, and indulging in market manipulation to influence the outcomes is a serious crime in these circumstances. Moreover, as these are the Presidential elections in context, the consequences could be indeed harsher than any other instance.
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