COLUMBIA, Mo. (KMIZ) As prediction markets continue to gain traction across the United States, major political events like the State of the Union are increasingly becoming opportunities for people to place bets and turn a profit. President Donald Trump’s nearly two-hour State of the Union speech, the longest on record, generated more than $12 million
As prediction markets continue to gain traction across the United States, major political events like the State of the Union are increasingly becoming opportunities for people to place bets and turn a profit. President Donald Trump’s nearly two-hour State of the Union speech, the longest on record, generated more than $12 million in wagers on prediction markets such as Kalshi and Polymarket, with bets ranging from the length of the speech to whether he would mention specific words or phrases. “The further down you got started getting a little stranger,” Geoff Zochodne, senior news analyst and predictions market expert at Covers.com said. “I think the one that was the least likely he was going to say was mentioning the word 'Ethereum,' that had to do with that cryptocurrency.” The rise of prediction markets accelerated in 2024, largely driven by interest in wagering on the presidential election, an option not available through most state-regulated sportsbooks. Zochodne noted the odds on those platforms painted a “bit more bullish” picture of Trump’s reelection chances, allowing operators to take a “bit of a victory lap” after the outcome matched their projections.