69% of Democrats and 61% of Republicans Agree on One Thing: Prediction Markets Can Bet Off 🍯

A Reuters/Ipsos poll shows a rare point of bipartisan agreement among Americans: most do not want to bet on the outcome of elections. The survey found that 69% of Democrats and 61% of Republicans opposed using prediction markets to wager on election results. Even betting on professional sports drew criticism, with 43% of respondents opposed and 29% in favor.

The poll of 4,506 adults nationwide was conducted on Sept. 30-Oct. 5. Prediction market platforms Polymarket and Kalshi allow users to wager on elections, government policy moves, and sporting events. The growth of the industry has triggered a wave of lawsuits between state and federal regulators over who has authority to oversee these markets.

The Trump administration is pushing federal oversight for the industry through the CFTC, a move that states are actively contesting. Many expect the dispute to ultimately reach the Supreme Court. Cointelegraph reported on Oct. 8 that 39 US states and the District of Columbia filed an amicus brief describing the conflict as a "national turf war" that cannot be resolved without intervention from the nation's highest court.

Separately, Blockchain.com is pursuing CFTC approval to offer prediction markets, according to CNBC.