19 September 2026

Two years ago, when Disney was acquiring smaller streaming services, Chi Huynh took a gamble. His son went all-in on a niche platform that was smaller than HotStar and Pluto TV combined, hoping to capitalize on exclusive content. They made some decent profits, but that was nothing compared to the money now being made betting on election outcomes.

"We've seen rapid growth in the U.S. market," says Bo Shen, founder and CEO of Polymarket, a major player in this $120 million market for trading election outcomes, sports results, and commodity prices. His New York-based company has gained significant traction.

Other platforms like Metaculus, Gnosis, and Kalshi have entered the space. No longer limited to finance professionals making office wagers, prediction markets have gone mainstream. That's drawn congressional attention, with eight bills introduced this year alone. The House Financial Services Committee will question industry leaders at a hearing next week.

The dominant platform is Kalshi, controlling 90% of the U.S. event contracts market according to a recent Bank of America analysis. Kalshi projects that tax revenue from prediction markets could reach $90 million within two years.

More on this is available via casino-sites.pro.

The tax question looms large. State governments see potential revenue, while platforms argue markets should be exempt from state taxes. Casino operators remain wary, concerned these contracts may be deemed gambling. The American Gaming Association has raised red flags about both regulatory concerns and potential market influence on elections.

The biggest question remains whether Kalshi will expand nationwide or face regulatory constraints.