PIERRE, SD (MITCHELLNOW) A state appeals court in Washington has ruled that people in that state may now wager on the outcomes of political campaigns. The Washington State Court ruled that those opposed to gambling on things like the outcome of the presidential race had not proved that bettors would be “irreparably injured” by wagering on these outcomes since gambling on almost everything else is already allowed.
The opponents argued that allowing wagering on political campaigns warps voters’ motivations at the ballot box and taints democracy. The Court said that the gambling interests of a single voter would not tip the balance, and one can assume that in a close election that those with an interest in one particular outcome would counterbalance all those interested in an alternative outcome.
The Court scoffed at the argument that a political candidate would “throw” an election for a mere personal gambling gain. The Court pointed out that candidates raise a ton of money for their elections, like the billion dollars Vice President Kamala Harris has raised for her race for the presidency, and that candidates’ personal reputations and futures are on the line in elections, so they are hardly likely to sabotage themselves for a single gambling win.
Total wagers on all betting platforms and events in the United States now tops $1 trillion. A recent study found that sports betting reduces stock market investments by nearly 14% as people look to get rich quick.