How to Bet on the 2026 Midterms
Discover how to legally bet on the 2026 Midterms using CFTC-regulated prediction markets like Kalshi and Polymarket US. Follow our 7-step guide to picking markets, reading contract odds, trading live on election night, and unlocking up to $50 in bonuses with promo codes ODDSCHECKER and CHECK.
Oliver Leonard - October 31, 2026, 6:00 PM EDT
3 Minute ReadHow to Bet on the 2026 Midterms
To bet on the 2026 midterms, open an account with a regulated prediction market such as Kalshi or Polymarket US, pick a market (House control, Senate control or a single race) and buy Yes or No contracts on the outcome you expect. If you're right, each contract pays $1.
Sportsbooks can't take election bets, so prediction markets are the legal route. New users can claim a bonus on both: Kalshi promo code ODDSCHECKER and Polymarket promo code CHECK, available when you sign up through oddschecker.
Step 1: Choose a platform
Kalshi | Polymarket US | |
|---|---|---|
Regulator | CFTC | CFTC |
Main midterm markets | House, Senate, balance of power, seat totals, House vote margin, individual races | More than 560 markets, including House, Senate, governors, ballot measures and local races |
Election night | Live trading until settlement | Midterms Hub with live vote counts next to market prices |
Promo code | ODDSCHECKER | CHECK |
Welcome offer | $25 bonus credit | $25 trading bonus (not available in Nevada) |
You don't have to choose just one. Plenty of traders open both accounts, claim both bonuses and buy wherever the price is better on the day.
Step 2: Sign up and verify your identity
Register through oddschecker and enter the promo code when asked. Both platforms check your age, identity and location before you can trade, so have your ID handy. Eligibility depends on your state; our guide to where you can bet on the midterms near you explains the rules.
Step 3: Fund your account
Make a deposit using one of the payment methods shown in the app. Keep the welcome offer in mind: Polymarket's bonus needs a first deposit and trade, and Kalshi's needs you to reach its qualifying trading volume.
Step 4: Pick your midterm market
Head to the elections or midterms section. The busiest markets are House control and Senate control, but you can also trade on a sweep of both chambers, the number of seats each party wins, or individual races such as the Texas Senate contest. Our guide to what midterm markets you can bet on runs through the full list.
Step 5: Read the price
Prices run from 1¢ to 99¢, and each one reflects the chance the market gives that outcome. As of October 29, Democrats trade at about 91¢ to win the House and Republicans at about 9¢.
That gives you a quick way to work out risk and reward. Buy 100 contracts on Democrats winning the House at 94¢ and you pay $94 for a $100 payout, a $6 profit if you're right. Buy 100 contracts on Republicans at 7¢ and you pay $7 for the same $100 payout, but the market sees that as a long shot.
You can track these prices alongside every other political market on our US politics odds page.
Step 6: Place your trade
Choose Yes or No, set how many contracts you want and confirm. You can buy straight away at the best available price, or set your own price and wait for another trader to match it.
Step 7: Manage your position through election night
You don't have to wait for the result. Prices swing as results come in, and both platforms let you sell at the current price before a market settles. That means you can take a profit if your side moves up early, or cut your losses if it doesn't.
Tips before you trade the midterms
- Compare prices. Kalshi and Polymarket often differ by a cent or two on the same outcome. Over 100 contracts, that's real money.
- Read the settlement rules. Some markets don't settle until results are certified. Kalshi's Senate control market can run until February 1, 2027 if there's no clear media consensus.
- Remember your money is tied up. Funds in an open position can't be used elsewhere until you sell or the market settles.
- Treat cheap contracts as long shots. A 7¢ contract pays well because the market thinks it rarely happens.
- Set a budget. Only trade what you can afford to lose.
- Check the polls and forecasters too. Race ratings from outlets such as the Cook Political Report and state polling averages give you a second view. If the market and the polls disagree sharply, find out why before you trade.
How to bet on the midterms: FAQs
Can I bet on the midterms with a sportsbook?
No. State-licensed sportsbooks can only offer sports betting. Use a CFTC-regulated prediction market such as Kalshi or Polymarket US instead.
How much do I need to start?
Contracts can cost as little as 1¢, so you can start small. Check each platform's minimum deposit when you sign up.
When is the 2026 midterm election?
Election Day is Tuesday, November 3, 2026. All 435 House seats and 35 Senate seats are on the ballot.
How do I get a midterms betting bonus?
Sign up through oddschecker with Kalshi promo code ODDSCHECKER for a $25 bonus credit, or Polymarket promo code CHECK for a $25 trading bonus.
How many House seats are up for election in 2026?
All 435. There are also 35 Senate seats and 36 governor races on the ballot.
Where can I bet on the midterms near me?
It depends on your state. Our guide to where you can bet on the 2026 midterms near you covers the rules for each platform.
Odds are from Kalshi and Polymarket as of October 31, 2026, and change constantly. Kalshi and Polymarket US are CFTC-regulated exchanges. Age and state eligibility rules apply, and promo terms apply. The Polymarket offer is not available in Nevada. Trading event contracts carries a risk of loss. If you or someone you know has a gambling problem, call 1-800-GAMBLER.
