Political betting markets still have plenty of action despite end of election season
The end of the election season does not mean the end of political betting, with many platforms allowing users to place wagers on everything from the 2028 election to who will be confirmed to President-elect Donald Trump’s Cabinet.
‘Some people will be amazed by this, but people are already betting on 2026 and 2028,’ Maxim Lott, the founder of ElectionBettingOdds.com, told Fox News Digital. ‘There’s been about a quarter million dollars bet already.’
The comments come after the 2024 election produced plenty of betting action, with users across multiple platforms wagering over $2 billion on the outcome of the latest race.
While mega sporting events, such as the Super Bowl and the recent Mike Tyson vs. Jake Paul fight, gives gamblers plenty to wager on after the election, those looking for something political to bet on will still have plenty of options.
One of the most popular topics is who will be the nominees for both major parties in 2028, with ElectionBettingOdds.com showing California Gov. Gavin Newsom and Vice President-elect JD Vance being the current leaders for Democrats and Republicans, respectively.
Other names with a significant amount of attention for betters include Pennsylvania Gov. Josh Shapiro and Michigan Gov. Gretchen Whitmer for the Democratic nomination, while Vance is trailed by names like entrepreneur and future head of the new Department of Government Efficiency Vivek Ramaswamy and Donald Trump Jr. on the Republican side.
‘The big Democratic governors are favored to be the next nominee,’ Lott said, noting that Vance currently holds a sizable lead over other options on the GOP side.
Vance is also the current betting leader on who will win the 2028 presidential election, ElectionBettingOdds.com shows, followed by Newson and Shapiro as the next two likely options.
However, Lott warned it is still too early to tell what the future holds, noting that the markets will start to provide more clarity as more information becomes known over the next few years.
‘As the future becomes clearer… as we get closer to 2026, 2028, these odds will change,’ Lott said. ‘So if the Trump administration is doing really well, the economy is booming, inflation is not out of control, wars are ending, Vance’s odds will certainly go up.’
Bettors also are not limited to wagering on elections, with platforms such as Polymarket allowing users to place bets on Trump’s picks to serve in his Cabinet and whether they will be confirmed. Bettors can also place wagers on questions such as if they believe the war in Ukraine will end in Trump’s first 90 days or if there will be a cease-fire in Gaza in 2024.
According to Lott, taking a look at the current betting odds for many scenarios can help inform you about what is going on in the world, even if you do not place bets yourself.
‘People often ask… is there any value to this… it’s just gambling. It’s silly,’ Lott said. ‘But actually it’s very useful… if you want to know what’s going to happen in 2028 or if the Trump administration is going to be a success, you could read 100 news articles on it. Some will misinform you. Or, you can just go to the prediction markets and see… is Vance a 20% chance of becoming the next Republican nominee or is he a 90% chance? That tells you a lot.’