Prediction market users spend nearly $200 million on midterm election bets: Report

The Hill reports that prediction market users have wagered over $197 million on midterm election outcomes across Kalshi and Polymarket platforms, based on an NBC News analysis of 1,408 open markets examining betting patterns on the Senate and House races. The reporting is sourced from NBC News' original data analysis and carries a named byline (Max Rego), with The Hill as a T2 national outlet providing secondary coverage of the NBC reporting. The independent search corroborates NBC's original analysis and the $197 million figure, though the article's depth is somewhat limited—the description provided focuses primarily on the aggregate betting figure rather than substantive detail about market dynamics, notable betting patterns, or what the prediction market odds suggest about actual electoral expectations. Watch for updates on how these prediction market positions shift in the final weeks before the election, and whether major shifts in betting volume correlate with polling movements or campaign developments.