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How to Bet on the 2024 Presidential Election

By

澳洲幸运5官方开奖结果体彩网:Michael Sacchitello

Updated February 03, 2025

A voter casts his in-person ballot for the 2024 general election. — Jeff Kowalsky / Getty Images

Former president Donald Trump defeated Vice President Kamala Harris in the 2024 U.S. presidential election on Nov. 5, 2024. While voting is over, you can still bet on this presidential election through two ᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚpopular online brokerage platforms— and . Betting on both brokerage platforms closed on Jan. 6, 2025.

To bet on the elections, you just needed to have an account with either of these brokers, then fund the account using any of the supported deposit methods. You could ꦕthen wager on the presidential election results through a partnership both brokers have with ForecastEx, a registered Designated Contract Market (DCM) and Derivative Clearing Organization (DCO) for Forecast Contracts.

The concept of election betting is not new, although historically, any attempts to offer such bets have struggled to get past regulatory scrutiny in the U.S. That all changed in October 2024, and nඣow U.S. clients have multiple ways to securely and legally participate in the election action.

Key Takeaways

Election betting is the act of wagering on the outcome of a particular political contest.
and are two brokers that began offering election betting ahead of the 2024 U.S. presidential election.
Election bets are placed via event contracts—derivatives that allow speculation on a binary outcome of an event.

Which Brokers Offer Election Betting?

Interactive Brokers (IBKR)

rolled out election betting on Oct. 3, 2024. The company, via its affiliate ForecastEx, offers “Forecast Contacts” on the presidential race, U.S. House and Senate majority races, and heated State Senate elections. Prices range from 2 cents to 99 cents per contract, and both “yes” and “no” contracts are available for purchase. IBKR charges no fees to trade Forecast Contracts. Election betting through IBKR closed on Jan. 6, 2025.

Robinhood

started offering election betting on Oct. 28, 2024. The company announced the rollout of presidential election event contracts, also in partnership with ForecastEx. Unlike IBKR, Robinhood only offers “yes” contracts, allows customers to own the “yes” contract for only one candidate, and charges a 1 cent commission per contract. Robinhood closed its presidential election betting on Jan. 6, 2025, with the payout date set for Jan. 8, 2025.

How Election Betting Works

Election betting uses 澳洲幸运5官方开奖结果体彩网:event contracts—derivative con𒐪tracts that allow people to speculate on the binary outcome of a specific event, such as a political race. The contracts are tied to a simple “event question” and a b💟inary answer such as “yes” or “no.”

and ﷽ only allow speculators to bet on the following two questions regarding the 2024 el♍ection:

Will Donald Trump win the 2024 U.S. presidential election?
Will Kamala Harris win the 2024 U.S. presidential election?

You can buy a “yes” orꦫ a “no” contract for each of these questions. Each contract is quoted in $0.01 increments, and priced up to $1.00, with each cent effectively representing a 1% probability that the event will occur. A correct answer pays $1, while an incorrect answer pays $0.

For example, on Oct. 30, 2024, Interactive Brokers offered a “yes” contract on Donald Trump winning for 63 cents. This means if you paid 63 cents, you'd receive $1 with a Trump win and $0 with a Trump loss.

Alternatively, a “no” contract costs 35 cents. If you bought this and Donald Trump lost, you'd receive $1, or $0 is he won.

How tꦛo Ope❀n a Brokerage Account to Start Betting on the Election

Step 1: Select a Broker

澳洲幸运5官方开奖结果体彩网:Compare different brokers to find one that best suits your needs as an investor. Some key🗹 factors to consider are commissions and fees, the number of tradable assets and instruments, availability of advanced research tools, user-friendliness, and your own trading style.

Step 2: Register an Account

Fill out the online application, providing the required personal information like your address, Social Securꦬity number, and employment details.

Step 3: Fund Your Account

🐓 Once your account is ready, fund it via any supported deposit method.

Alternatives to Using an Online Broker💛 to Bet on the 2024 Election

Kalshi

Founded in 2018 with an app that launched in 2019, Kalshi is the first regulated prediction market exchange in the U.S. While the company is in an ongoing dispute with the Commodity Futures Trading Commission (CFTC)—the commission argues that Kalshi’s presidential race contracts constitute gambling and can undermine election integrity—an interim court sided with Kalshi allowing the company to begin offering bets on the 2024 presidential race on Oct. 3, 2024.

Frequently Asked Questions (FAQs)

What Is a Brokerage Account?

A 澳洲幸运5官方开奖结果体彩网:brokerage account is an investment account that allows individuals to buy and sell securities, such as stocks, bonds, mutual funds, and exchange-traded funds (ETFs), through a licensed brokerage firm. When you open a brokerage account, you can deposit money and use those funds to purchase and sell investments, aiming to grow wealth over time. There are several types of brokerage accounts, from standard taxable accounts to tax-advantaged options like 澳洲幸运5官方开奖结果体彩网:individual retirement accounts (IRAs), eac🦩h with unique features and bene🍸fits based on your financial goals.

Are Brokerage Accounts Safe?

Yes, your money is generally safe in a brokerage account. In the U.S., the brokerage industry is subject to strict regulatory oversight by the 澳洲幸运5官方开奖结果体彩网:Financial Industry Regulatory ᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚAuthority (FINRA) and the U.S. 澳洲幸运5官方开奖结果体彩网:Securities and Exchange Commission (SEC). Additionally, all accounts are insured against the brokerage firm’s failure by the 澳洲幸运5官方开奖结果体彩网:Securities Investor Protection C𒁃orporatio🌄n (SIPC) for up to $500,000, including $250,000 cash. However, SIPC does not protect against investment losses due to market changes.

What Is Kalshi and Is It Legit?

Kalshi is an online prediction market that allows users to bet on the outcomes of real-world events, such as economic releases and political races. Founded in 2018, the company is regulated and authorized by the 澳洲幸🌼运5官方开奖结果体彩网:Commodity Futures Trading Comm🔯ission (CFTC) and is a legitimate venue for event-based trading in the U. S. Recently, Kalshi gained attention due to its dispute with the CFTC over proposed U.S. presidential election bets—while the case is still ongoing, an interim court ruling allowed Kalshi to offer such trades under strict guidelines.

Article Sources

Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy.

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