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Gambid
@gambid
Fun fact: Prediction markets for politics date back further than most people think, with well organized betting markets operating between 1868 and 1940 During the 1916 election the total betting pool was $165m, a number that dwarfed the actual campaign spending that year
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Garrett
@garrett
Were these markets legal or regulated at all? Didn’t realize they dated back this far
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Gambid
@gambid
It was a legal gray area at the time but widely practiced and organized
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Garrett
@garrett
Fascinating so it's not all that different from today in regard to regulation/legality It's really surprising to see how popular they were back in that time
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