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Betting markets are trash, simple as that.
I have a very good idea what the average dude thinks like, i'm one, so, again, you go and defend betting markets 70% or whatever chances of Trump winning, its just not very impressive to me, and it should not be for you either.
Election futures markets used to be a better predictor of elections than any polls. Back when it was just the Iowa Electronic Market and participants were mostly just college students, professors and political nerds throwing down $5-$20 apiece.
"In presidential elections from 1988 to 2004, the Iowa Electronic Markets have predicted final results better than the poll three times out of four."
https://mason.gmu.edu/~rhanson/PAM/PRESS/ScientificAmerican-3-08.pdf
The problem is with these newer markets like Polymarket, is when some whale throws down tens of millions dollars on a single candidate, it obviously completely skews the market and renders it meaningless as a predictor. If they operated as intended with just tens/hundreds of thousands of different people all throwing down a similar amount of money (say $20) then they would likely still be better election predictors than polling.