Staffers Make ‘Thousands’ Betting on Their Candidates

NPR: “For this campaign staffer, the method was simple. First, they’d receive a tip on an unreleased poll and compare it with the odds on a prediction market, like PredictIt or Polymarket. If the poll reported their candidate had a better chance of winning than the prediction markets, they’d use this edge to buy low-cost odds on their candidate — known as event contracts — before the poll was released.”

“On prediction markets, the price of an event contract often mirrors the market’s estimation of the probability of a given outcome — in this case the chance a candidate will win. So a contract selling for 20 cents means the market is pricing a 20% chance of success.”

“Once the poll went public, the prediction market contracts shot up in value. The staffer would then sell their contracts at a higher price and make money.”