Election betting recently became legal in the US, with Americans putting in millions to signify their confidence in their presidential candidate.
Kalshi, a startup that lets users “trade on events, just like stocks,” has over $123 million worth of bets. Most bettors on Kalshi expect former President Donald Trump to win.
“Think of it as the NYSE [New York Stock Exchange], but for things you relate to, care about, and understand,” Kalshi said on its website.
In an interview with Fortune, its 28-year-old CEO, Tarek Mansour, said that betting on political events makes more sense than pollsters, even calling statistical methods “outdated and inaccurate.”
He added that “people don’t lie with money.”
Will a similar startup fly in politically-divided Philippines?
