Polymarket Account Buys Contracts on Democrats Not Controlling Both Chambers

A Polymarket account bought contracts that would pay out if Democrats do not control both chambers of Congress after Tuesday's midterm elections.

The account had $82,500 in cumulative losses.

The contract resolves based on which party controls the House and Senate after Tuesday, Nov. 3, when U.S. midterm voting is scheduled. A majority of voting seats determines control of each chamber. If neither party has a Senate majority, the party with half the seats and the vice presidency receives control; if that leaves the result unresolved, the first elected Senate president pro tempore's party determines it. If no party holds a House majority, the first elected speaker's party determines control.