Brazil Election Results Spark Debate Over Prediction Markets After Lula Wins at 20% Odds

Polymarket and Kalshi priced Flávio Bolsonaro as an 80% favorite hours before Luiz Inácio Lula da Silva won Brazil's Sunday runoff, sparking debate over prediction market accuracy. Traders are split on whether the markets mispriced the outcome, raising questions about the reliability of such platforms.