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Kalshi and Polymarket are the major online prediction markets where people bet on future events, everything from election results to who will win the 2027 NBA Championship. But do those bets influence election results? And how are the companies protecting gamblers from manipulating the market? CNBC’s investigation team explores.
Disclosure: CNBC has a commercial partnership with Kalshi and uses the company’s market data across its broadcast and digital platforms.
Chapters:
0:00 Introduction
3:52 Spencer Pratt’s campaign for LA Mayor
6:39 Prediction markets and congressional races
9:31 Tracking unusual activity
14:34 Data collected on each trader
18:05 Banning bets on elections?
Correspondent: Melissa Lee
Investigative Producer: Paige Tortorelli
Senior Investigative Producer: Scott Zamost
Editor: Steve Banton
Photographers: Oscar Molina, Marco Mastrorilli, David Soltis, David Grogan, Leroy Jackson, Mark Aster, Paul Lester, Kyle Watkins, Sean Healey, Christopher Albert
Audio Operators: Everett Wong, Juan Rocha, Francesco Lo Cascio, Tim Camarda
Animators: Erin Dean and Leslie Lillo
Additional Footage: Getty Images
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