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Rejoicehub LLP, a prominent offshore IT outsourcing firm, was established in 2019 and has been making remarkable strides in the IT sector.Our dedicated team of over 100 professionals is our greatest asset. Our unwavering commitment to excellence has made us a highly sought-after company globally. We prioritize understanding our clients perspectives to enhance their product development process. Our adept professionals are capable of providing top-notch solutions. We promise our clients to bring their unique ideas to the market in a more user-friendly manner. Punctuality is a cornerstone of our work philosophy, and we prioritize delivering exceptional quality.

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‘Prediction markets’ set to pay out $450M to election bettors

Date November 7, 2024

Writen by Connie Loizos

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Following Donald Trump’s election victory, thousands of bettors anticipate a potential $450 million payout from online betting sites, says Reuters. As Trump’s odds surged on so-called prediction markets near the end of the race, platforms like Kalshi and Polymarket gained attention for diverging sharply from traditional polls, which suggested a much closer race. 

Talking with the outlet, a Princeton neuroscience professor credited the markets’ comparative accuracy to their ability to “measure crowd wisdom where no hard data is available.”

Backers in Kalshi plainly saw what was coming. As TechCrunch reported last week, its investors loaned the outfit tens of millions of dollars in short-term loans to pay its customers.

Their individual winnings may pale in comparison to a Polymarket bettor known as the “Polymarket whale.” As Reuters notes, the French former trader made $40 million worth of Trump-related bets on the site. If Trump also wins the popular vote, the “whale” will reportedly walk away with $80 million.

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