Knight's Choice Wins 164th Melbourne Cup

Prediction markets played a significant role in forecasting the 2024 presidential election outcome, with a single high-stakes French trader influencing Donald Trump's odds on Polymarket. Trump's winning odds surged to over 90% prior to the election, with Polymarket highlighting the market's ability to reflect real-time information. Meanwhile, the Melbourne Cup saw an unexpected victory by the 80-1 outsider Knight's Choice, rewarding lucky bettors with massive payouts, reflecting the unpredictability of horse racing. Notably, a punter who placed a single dollar bet could have won over $1 million by backing Knight's Choice. Additionally, substantial bets are being placed on various horses in the current Melbourne Cup, with one punter wagering $8,000 on a long-shot mare, Positivity, potentially earning over a million dollars. As the Melbourne Cup approaches, the betting landscape remains dynamic, with significant stakes on both favored and outsider horses.