Prediction markets favored Bolsonaro for three weeks before Brazil election

Prediction markets spent three weeks heavily favoring Flávio Bolsonaro to be Brazil's next president, according to The Center Square. The article frames the Brazil miss as a prelude to the U.S. midterms, which it casts as a bigger test for prediction market accuracy.

A high-profile miss on a major national election could damage prediction markets' credibility with mainstream observers and regulators ahead of the U.S. midterm cycle.