US election bets surge after court lifts ban

Unlock the US Election Countdown newsletter for freeThe stories that matter on money and politics in the race for the White HouseMillions of dollars in new wagers are being placed on the US presidential race — narrowly favouring Donald Trump — as fledgling platforms chase bets from professional investors following the lifting of a domestic betting ban last week.Kalshi, whose court victory in Washington over a US regulator opened the market, is offering institutional investors the opportunity to put as much as $100mn on either Kamala Harris or Trump for a win in November.RecommendedIn the first days since the ban was lifted, more than $12mn has been wagered, and the company was in the process of setting up several institutional players on the platform, said Kalshi founder Tarek Mansour. Those amounts are expected to continue growing as election day nears and more traders are attracted to the platform.The bets are structured as so-called binary options — all-or-nothing wagers…