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Polymarket priced Lula at about 20% before he won Brazil's presidential election

NewsFeeds update

Polymarket put Luiz Inácio Lula da Silva's chances at about 20% and Flávio Bolsonaro's at 80% before the vote; Lula went on to win a fourth term. Large trader FhantomBets said retail traders were bearish on Lula, while CoinShares researcher Luke Nolan and TxODDS chief executive Einar Knobel pointed to Brazil's ban on prediction markets as a likely cause of the mispricing.

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Read the original on Odaily

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