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Democratic election momentum coincides with lower futures and elevated Kalshi odds

Barron's reports S&P 500 futures fell 0.45 percent and Nasdaq futures fell 0.79 percent in extended trading as early vote counts showed Democrats outperforming their 2024 results. The shift came as Democratic chances of taking the Senate spiked on Kalshi, which priced Senate control at 90 percent and House control at 98 percent at the time.

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