Millions of dollars poured into prediction markets on election night, betting on Democratic control of Congress and Texas governor's race

Trading volume in prediction markets surged on election night as traders bet on Democratic control of Congress and the Texas governor's race, with prices shifting toward Democrats on Nov. 3. Millions of dollars flowed into these markets as results came in, reflecting real-time reactions to the midterm outcomes. The activity highlights the growing role of prediction markets as a gauge of political sentiment and event odds. Market prices moved notably toward Democratic candidates as the night progressed. What to watch next is whether these market-implied probabilities hold as final results are certified and whether liquidity sustains beyond election night.