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Prediction markets miss Brazil runoff as Kalshi priced Bolsonaro at 84 percent before Lula won, CoinDesk reports
- Prediction markets miss Brazil runoff as Kalshi priced Bolsonaro at 84 percent before Lula won, CoinDesk reports — Kalshi put Bolsonaro's chances of winning Brazil's presidential runoff at 84 percent in an October 24 preview even as polling showed a close race, and Lula won the next day. CoinDesk reports Brazilian companies turned to stablecoins on election day to hedge a currency move, with Bitcoin gaining 9.4 percent against the real while slipping 0.2 percent against USDT. (CoinDesk)
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