With the rise of new investment tools, election markets have emerged as a popular, high-stakes way for individuals to “bet” on the outcomes of major political events, such as the U.S. presidential election. Platforms like Robinhood, Kalshi, and Polymarket allow users to purchase event contracts—financial instruments that pay out based solely on the occurrence of a specific event, in this case, whether a particular candidate wins or loses. While these markets are making headlines and attracting widespread interest, their permissibility from a Shariah perspective remains a significant concern.
This is a companion discussion topic for the original entry at https://blog.zoya.finance/betting-on-presidential-elections-halal-or-haram/