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Wed, 04 Nov 2026 01:30:00 +0000 Political Betting Slumps On Prediction Markets As Crypto And Sports Boom
Political Betting Slumps On Prediction Markets As Crypto And Sports Boom
Americans head to the voting booths today with Democrats favored to take control of both the House and Senate according to mainstream polls and prediction mar
Read more.....
Political Betting Slumps On Prediction Markets As Crypto And Sports Boom
Americans head to the voting booths today with Democrats favored to take control of both the House and Senate according to mainstream polls and prediction markets. Attention has shifted to prediction markets, where the implied probability of a Democratic sweep stands at roughly 75%, down slightly from 78% earlier this morning.
The attention on prediction markets over the last few years has not translated into stronger midterm trading. Bloomberg's report from earlier today shows political trading on these platforms has struggled, even as sports and crypto betting have jumped.
Election-related turnover on Kalshi was roughly unchanged in the final week before the midterms compared with the same period before the 2024 presidential election. Polymarket's election volume fell significantly. Meanwhile, overall trading across both betting platforms has increased more than twentyfold since October 2024, which may suggest users are more interested in crypto and sports bets than political outcomes.
The Bloomberg report cited data from last month showing that political betting on Kalshi and Polymarket accounted for just 1% of trading, down from two-thirds during the 2024 presidential election.
"Limited trading interest in the midterms represents a problem for prediction markets ," the outlet said.
Koleman Strumpf, a professor of economics at Wake Forest University in Winston-Salem, North Carolina, said both betting platforms "need to prove to their investors that they have another business," adding, "They also need to prove to all these other people, regulators, judges, that the more socially valuable part of prediction markets is important."
A separate report by the Anti-Corruption Data Collective showed that liquidity in almost all midterm election markets on both betting platforms is so low that it would take only a few thousand dollars to move their forecasts meaningfully .
"When you introduce tens of thousands of markets, but not all of them have national prominence or are able to attract betting volume, that opens up a lot of vulnerabilities where a savvy, potentially malicious actor could go in and bet a small amount of money and skew the odds in one way or another ," said David Szakonyi, co-founder of the collective and a political science professor at George Washington University.
The current Polymarket probability of a Democratic sweep stands at 75% as of early Tuesday afternoon.
Tyler Durden
Tue, 11/03/2026 - 20:30
Close
Wed, 04 Nov 2026 01:05:00 +0000 New Jersey Governor Bans "Illegal Russian Fuel" Inbound To Ports
New Jersey Governor Bans "Illegal Russian Fuel" Inbound To Ports
New Jersey Democratic Governor Mikie Sherrill warned port and terminal operators in the state against "purchasing or unloading the illegal Russian fuel curren
Read more.....
New Jersey Governor Bans "Illegal Russian Fuel" Inbound To Ports
New Jersey Democratic Governor Mikie Sherrill warned port and terminal operators in the state against "purchasing or unloading the illegal Russian fuel currently bound for the east coast of the United States ."
Sherrill's move threatens to complicate President Trump's efforts to bring Russian diesel into US markets to ease high industrial fuel prices amid a severe global refining squeeze fueled by Ukrainian drone attacks on Russian refineries and disruptions in the Strait of Hormuz.
In a Monday letter, Sherrill urged operators to turn away tankers carrying Russian diesel and said the state would use its legal and regulatory powers to prevent the shipments from entering through New Jersey.
Sherrill said, "Russia has since dispatched multiple diesel oil tankers to the United States, including at least one that may be headed for the New Jersey coast ."
"The Russian Oil Act does not grant the President or Treasury Department blanket authority to waive these sanctions through licenses ," the governor added.
She concluded, "Any effort to profit from the illegal trade in Russian fuel will be met with harsh penalties ."
Related:
In early October, President Trump announced a deal with Russian President Putin to allow Russian diesel imports to flow into the US. AAA prices as of Tuesday morning show diesel prices at the pump averaging around $6.29 per gallon nationwide, down from $6.50 just weeks ago.
Brian Mandell, executive vice president of marketing and commercial at Phillips 66, recently told analysts on an earnings call, "We don't think Russia has enough distillate to make much of a difference, to be quite frank," adding, "That's a drop in the bucket compared to how much distillate is offline."
Tyler Durden
Tue, 11/03/2026 - 20:05
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Wed, 04 Nov 2026 01:05:00 +0000 Tech/Crypto Tank As Dem Midterms Sweep Odds Soar: Watch Election Night Results Live Here
Tech/Crypto Tank As Dem Midterms Sweep Odds Soar: Watch Election Night Results Live Here
Tech/Crypto Tank As Dem Midterms Sweep Odds Soar: Watch Election Night Results Live Here
And so it begins...
2040ET: Senate : 43D - 32R ~~ House : 42D - 18R ~~ Governor : 11D - 8R
As a reminder, President Trump posted on his TruthSocial this morning that "I think Midterm results will be better than you think."
We shall see...
The market does not like the way this is going...
...as Dem Gina Hinojosa takes an early lead against Greg Abbot in the Texas Governor race ...
As a reminder, a Democratic sweep could intensify scrutiny of data-center spending, power costs, and AI regulation - the key risk is that the election becomes another catalyst for de-risking an already crowded theme...
But remember, it's still early as the drama of election night in the US plays out across 50 states and six time zones, with poll closings cascading across the country from east to west and literally hundreds of Senate, Congress, and Governors to watch. To keep it simple, we are going to update each of the broad categories below with major wins/losses.
Each state sets its own polling hours, and sixteen states have different closing times depending on which time zone the polling place is in. The first to close are Kentucky and Indiana, where the portions in the Eastern time zone close at 6 p.m. New York time. The final closing is seven hours later in the Aleutian Islands of Alaska, where a single precinct stays open until 1 a.m. New York time.
Several counties reported voting system problems, among other issues, during today's voting...
Westchester County, NY: Countywide scanner problem (ballots not going through). Ballots put in emergency bags for later scanning. Officials (including AG Letitia James) said votes would still count and urged people to vote. Broward County, FL: Brief technical delays (10–15 minutes) at some sites; a couple of polling locations moved due to flooding. Fulton County, GA: Two scanners failed during early voting (affecting ~1,069 ballots); officials planned to rescan them properly. Officials in the affected areas largely reassured voters that ballots would be secured and counted.
Watch results live here:
Results: Prediction Pulse
House *DDHQ PROJECTS ANNA PAULINA LUNA WINS THE FL US HOUSE 13 GENERAL ELECTION Senate Dem Wins:
MARK WARNER WINS THE VIRGINIA US SENATE GENERAL ELECTION, DDHQ PROJECTSJON OSSOFF WINS GEORGIA SENATE RACE, DDHQ PROJECTSBOOKER WINS NEW JERSEY SENATE RACE, DDHQ PROJECTSSHAPIRO WINS PENNSYLVANIA GOVERNOR RACE, AP PROJECTSPAPPAS WINS NEW HAMPSHIRE SENATE RACE, DDHQ PROJECTSPRITZKER WINS ILLINOIS GOVERNOR RACE, AP PROJECTSCOOPER WINS NORTH CAROLINA SENATE RACE, AP PROJECTSRep Wins:
MOODY WINS FLORIDA SENATE RACE, DDHQ PROJECTSBARR WINS KENTUCKY SENATE RACE, DDHQ PROJECTSAs we detailed earlier, the House is done. Or at least the market thinks so.
Going into tonight, Polymarket traders give Democrats a 96% chance of taking the House and 74% for the Senate , the highest Democratic Senate odds since the market opened, and as of 7:17am ET this morning the Democratic sweep contract was trading at 77%.
Which is why Goldman, in its "Midterms Preview" email this morning (available to pro subs ), says the only part of tonight that can really surprise anyone is the upper chamber:
A Democratic House looks largely priced, with the Senate representing the main source of election related surprise. With sentiment, positioning and leverage already significantly lower following recent derisking, the bigger question for markets may be whether the election acts as a clearing event and supports a broader rerisking in equities.
In other words, everyone is watching the House count, and the money is riding on the Senate . Regular readers know we've been tracking the blue-wave odds since they were a coin flip, from our warning back in May that electric bills could be the 2026 election shocker to JPMorgan's "Democrat Factor" soaring 20% as Wall Street priced a sweep. Below is everything you need for tonight: the math, the clock, the polling trap and what each outcome means for markets.
The Math: Four Seats, Seven Coin Flips Republicans hold the Senate 53-47. Democrats need a net gain of four ; a gain of three produces a 50-50 chamber, which stays Republican thanks to JD Vance's tie-breaking vote. That means Democrats have to hold Georgia, Michigan and New Hampshire, and then flip four of the GOP-held seats in North Carolina, Ohio, Texas, Alaska, Maine, Kansas, Iowa, Nebraska and South Carolina.
Cook Political Report rates seven races as pure toss-ups: Alaska, Iowa, Maine, Michigan, New Hampshire, Ohio and Texas, with Georgia and North Carolina leaning Democratic. The final New York Times/Siena polls had Democrats leading in Michigan, Texas, Kansas, Maine and Ohio, holding an edge in Alaska and effectively tied in Iowa, which on paper is a comfortable majority.
Here is how that looks in Goldman's chart of polling margins against market-implied odds, from the bank's chief US political economist Alec Phillips (chart source GS GIR, Kalshi ):
Three things jump out.
Democrats lead in every Republican-held race to the left of the line, but outside of North Carolina, none of those leads is bigger than about 3 points . Maine, Kansas and Iowa sit right on top of the tie line. And the market is giving Democrats more credit in Texas and Alaska than their polling margins alone would justify. Which brings us to the problem.
Why The Polls May Be Flattering Democrats (Again) Goldman's Phillips and Abhay Duggirala have been waving this flag for weeks. In Republican-leaning states, GOP Senate candidates have beaten their final polling margins by an average of 3 points since 2002 , and in competitive races over that stretch, candidates leading by 2.5 points or less won only 60% of the time . Among Republican-held seats, Democrats currently lead by more than that 3-point cushion only in North Carolina.
The desk's translation this morning:
The Senate remains much closer, however, with recent election cycles showing polling errors have tended to underestimate Republican performance in Republican leaning states . As a result, the larger market reaction may come from a divided Congress outcome, which appears less fully reflected in current pricing.
The polls aren't the only problem. As we noted last month , Phillips found that in the five previous midterms going back to 2002, prediction markets "have tended to overstate the challenging party's sweep odds at this point in the cycle." Apply the historical fade to today's 75% and a sweep is still the favorite, just by a lot less than the Kalshi billboards in New York suggests.
Put differently, the House is a lock, the Senate is (roughly) a 60/40 dressed up as a 75/25 . Which makes the order in which the states report tonight unusually important.
The Clock: What Closes When (All Times ET) Polls close in waves from 6pm to 1am Eastern. Here is where each key Senate race sits on the clock, against the latest odds:
6:00pm - Indiana, Kentucky (most of each). No marquee statewide races, but Decision Desk HQ flags Hamilton County, IN (Victoria Spartz's IN-5, which Trump won 52-46) as an early read on suburban swing.7:00pm - Georgia, South Carolina, Virginia, Vermont, most of Florida and New Hampshire. Democrats are clearly favored to hold Georgia and New Hampshire. The sleeper is South Carolina , where appointed Sen. Darline Graham is only a slight favorite over Democrat Annie Andrews (Kalshi: 67/33), and who joked she'll "choke Lindsey" in heaven for leaving her in a tied race. Florida counts fastest of any state; watch Osceola County for the Latino swing. VA-2 is a must-win House seat for Democrats.7:30pm - North Carolina, Ohio, West Virginia. Roy Cooper vs. Michael Whatley in NC is Democrats' likeliest flip (Cabarrus County near 50-50 means a good night for Cooper). Ohio is the first real toss-up of the night: Sherrod Brown vs. appointed Sen. Jon Husted (Brown 71% on Kalshi), plus the Ramaswamy vs. Acton governor's race. If Brown wins, the Senate path opens; if he loses early, the 75% sweep odds will not survive the hour .8:00pm - Maine, Pennsylvania, New Jersey, rest of Florida and New Hampshire, most of Texas, Kansas and Michigan. Susan Collins vs. Troy Jackson in Maine (Jackson 73%), but Maine is about the slowest-counting state in the country and may need a ranked-choice runoff (more below). House battlegrounds in PA (including Fitzpatrick's PA-1) and NJ-7. In Texas, keep an eye on Collin County: a 50-50 or bluer result is "probably a necessary condition" for a Democrat to carry the state, per DDHQ.9:00pm - The big hour: Texas, Michigan, Kansas, Iowa, Nebraska finish; New York, Minnesota, Arizona and Wisconsin close. Talarico vs. Paxton (Talarico 74%, the most traded race of the cycle), El-Sayed vs. Rogers in Michigan (El-Sayed ~78%, recovering after Democrat Haley Stevens endorsed Rogers on Sunday ), Hamilton vs. Marshall in Kansas (Hamilton 63%, up 22 points in a week), Turek vs. Hinson in Iowa (52/48, the true coin flip), and independent Dan Osborn vs. Pete Ricketts in Nebraska. Dubuque County, IA is the tell for white working-class voters. By roughly 10pm, we should know whether Democrats have a real path .10:00pm - Nevada, Montana, Utah. Gov. Joe Lombardo vs. Aaron Ford is a toss-up; MT-1 is an open toss-up House seat.11:00pm - California, Oregon, Washington, Idaho. Democrats are favored to flip all five GOP-held California seats they targeted in redistricting, but California counts mail ballots received through Nov. 10, so don't expect final House numbers for days.Midnight/1:00am - Hawaii and Alaska. Dan Sullivan vs. Mary Peltola (and the other Dan Sullivan). The last poll closes in the Aleutians at 1am. The counting may take a lot longer.Don't Hold Your Breath: Maine, Alaska And The Lawyers Goldman's FX strategist Stuart Jenkins, in the bank's GS Morning note (available to pro subs ), sums up the timing problem:
We should get a sense of the degree of the polling error pretty early on, but it can take days or even weeks, especially on the Senate, to get an official result .
Two of the seats Democrats need are the likeliest to drag:
Maine uses ranked-choice voting for federal races, municipalities have two days to report official counts, and per Secretary of State Shenna Bellows the state has historically known the ranked-choice outcome the week after the election. A runoff has to be certified by Dec. 18.Alaska accepts ballots mailed from outside the US for 15 days after Election Day, and close races there have a long history of taking all 15. On top of that, the DOJ has sued to block certification if Peltola wins while "decoy" candidate Daniel J. Sullivan remains on the ballot, and as Jonathan Turley wrote in "Alaska's Decoy Scandal Brings Back The Usual Suspects" , "this scandal will not end on Tuesday." So if the Senate comes down to 50 seats plus Alaska, Wall Street could be trading a binary outcome against a federal lawsuit into Thanksgiving. Nothing says "clearing event" like a recount in the Kenai Peninsula.
Meanwhile Goldman's Rich Privorotsky has a simpler cheat sheet:
The clearing of the political event should be important. The S&P has been higher in the 12 months following all 19 midterms since 1950 ... no guarantees but gridlock has generally been seen as supportive for equities, although AI and data center restrictions remain an important risk to watch... The first hurdle is avoiding an extreme midterm outcome … Texas will be important to watch.
Texas matters twice: the Senate seat, and a governor's race where, as we detailed earlier today in "These Are The States Where Tuesday's Midterms Can Pull The Plug On Data Centers" , Democrat Gina Hinojosa wants an emergency moratorium on a 474 GW interconnection queue.
What Markets Are Pricing: Gridlock Good, Sweep... Less So The consensus playbook, laid out in "Wall Street's Midterm Cheat Sheet" yesterday, comes from JPMorgan's Market Intel desk: a 66% Blue Wave sees the S&P anywhere from down 25bp to up 50bp , a 26% split Congress sends it up 0.5% to 1%, and a 7% Red Wave gets +1% to +1.25%. Translation: the likeliest outcome is the worst one for stocks, though nobody expects a crash on the night. Not everyone is that relaxed: BofA's Michael Hartnett, as we noted last month , sees a Democratic sweep as "big risk-off", with stocks skidding more than 10%, and we tweeted his sweep-odds chart on Sunday.
The bond view is more muted. Mizuho's Evelyne Gomez-Liechti estimates a sweep adds about 2bps to 10-year yields (4.91% this morning) while a split Congress takes off about 3bps, but warns against "chasing" the gridlock-means-austerity narrative:
Trump's willingness to make deals could still see higher defense spending alongside some dilution of planned Medicaid cuts, leaving the underlying fiscal trajectory little changed .
Rate-insensitive maybe... but not stupid. Goldman agrees on tariffs at least: any Democratic rollbacks on Canada would be more than offset by new White House tariffs, for a net ~2ppt increase in the effective tariff rate after the election. And the first real fight is the Dec. 11 funding deadline, not AI.
For those who want to trade it, Goldman's baskets team's top sweep idea, which we laid out on Sunday , is long ACA beneficiaries (GSHLCACA), which has tracked the Kalshi sweep odds almost tick-for-tick since summer... until the last two weeks, when the basket rolled over even as the odds kept climbing (chart source Bloomberg, GS ):
Either the basket knows something the prediction markets don't, or it's a cheap entry. Our money is on the former.
As for the longer view, JPM is as bullish as ever:
The Night Turns On Texas At 9pm... Or Maybe On Alaska In Two Weeks Goldman's desk puts the real question for markets simply: whether tonight "acts as a clearing event and supports a broader rerisking in equities." With sentiment, positioning and leverage already washed out after last week's tech rout, it might, if the result is clean.
We're not so sure it will be. The House is a lock. But the Senate majority runs through four GOP-held states where Democrats lead by less than the 3 points Republicans have historically gained on their final polls, two states that count for days or weeks, and one that comes with its own federal lawsuit. So our take: the Democratic sweep is still the most likely single outcome, but the 75% price tag is too rich , and the likeliest surprise is a 50-50 or 51-49 Senate that nobody can call until Alaska finishes counting. The prediction markets have long since made up their minds:
Then again, prediction markets were also pretty sure about the last red wave. We'll be updating this post through the night; first stop, Ohio at 7:30pm.
Much more in Goldman's "Midterms Preview" as well as Alec Phillips' midterm preview , all available to pro subs .
Tyler Durden
Tue, 11/03/2026 - 20:05
Close
Wed, 04 Nov 2026 00:40:00 +0000 Scott Galloway's Unhinged Tirade Against Elon Musk Takes A Very Dark Turn...
Scott Galloway's Unhinged Tirade Against Elon Musk Takes A Very Dark Turn...
Marketing professor and anti-MAGA podcaster Scott Galloway launched an unhinged attack on Elon Musk, branding the billionaire a "traitor to the Wes
Read more.....
Scott Galloway's Unhinged Tirade Against Elon Musk Takes A Very Dark Turn...
Marketing professor and anti-MAGA podcaster Scott Galloway launched an unhinged attack on Elon Musk, branding the billionaire a "traitor to the West" before invoking the infamous Rosenberg espionage case , which ended with the execution of two Americans during the Cold War.
Galloway spewed the incendiary comments during a discussion with former technology journalist Kara Swisher about Silicon Valley's growing influence, arguing that the United States' obsession with billionaire innovators has created a dangerous double standard.
However, what began as a familiar critique of Silicon Valley's billionaire class quickly took a darker turn. Galloway compared Musk to aviation pioneer Charles Lindbergh , whose sympathies toward Nazi Germany before America's entry into World War II remain a controversial chapter in U.S. history. Galloway then invoked Julius and Ethel Rosenberg, the American couple executed in 1953 after being convicted of conspiracy to commit espionage for the Soviet Union.
"We lined up the Rosenbergs against a wall," Galloway said, before insisting Musk should be held to the same standards as other traitors.
VIDEO
Galloway stopped short of explicitly calling for Musk's execution, but bringing up two spies who were put to death while calling him a traitor was a striking comparison .
Here are Galloway's remarks in full:
Okay, so I'll go fail first. I think the idolatry of innovators has gotten so out of control. I was talking to the secretary before this. If you go up and down the West Coast, you're going to see literally companies. The West Coast is littered with multi-trillion dollar companies, and you get to the Canadian border, it stops. You get to the Mexican border, it stops. And yet these individuals are quick to credit their grit and their character for their success and blame the government for their failures.
And what is so disappointing, that's not my fail, because if you tell a 30-year-old male who's Jesus Christ, he's inclined to believe you. The fail is that we have begun believing through this ridiculous, unhealthy, and dangerous idolatry of innovators that they get to live by an entirely different standard. Elon Musk is a traitor to the West.
[crowd applause]
In the 30s, we had this incredible hero, Charles Lindbergh, an innovator, and he felt that we should be on the side of Germany. And a lot of people felt that way. We had spent tremendous capital, a lot of loss of young men in World War I, and we thought, you can understand, we don't want to go back, right? And his view was we should partner with Germany and Hitler.
What if, and this could have very easily happened, he was a hero. What if he'd raised the capital to buy Boeing? He probably could have done it. And then when we lent B-17s to run bombing runs over Germany to the RAF, what if he had figured out a guidance for a flight system and then mid-1940, before we were involved in the war, decided to throttle back those guidance systems and the blitzkrieg in London got worse, and more homes and more civilians were destroyed and killed respectively. What would we have done to Charles Lindbergh?
But it's uncomfortable and weird because we've decided someone who's a trillionaire, makes a great EV and can land a rocket on scissors is held to a different standard. We lined up the Rosenbergs against a wall. This is a traitor to the West, and you should be held to the same standards as every other traitor in the West.
The Rosenbergs were convicted in 1951 of conspiring to commit espionage for the Soviet Union and executed at New York's Sing Sing prison two years later. Their case remains one of the most controversial espionage prosecutions in American history, particularly because of the severity of the punishment.
Galloway's remarks come amid an increasingly hostile climate surrounding Musk, with the billionaire facing criticism over his political activities and his role in the Trump administration.
A shadowy international group calling itself The Capytistas is preparing to expose the private homes of some of America's wealthiest individuals in a new campaign, according to a dossier viewed by WIRED .
The group's strategy is simple: Turn the private residences of the ultrawealthy into public information, potentially exposing properties their owners have gone to considerable lengths to keep out of the spotlight.
The Capytistas claims to have secured more than $1.2 million in financial backing and intends to publish over 150 residential addresses , many of which it says have never been publicly disclosed.
Elon Musk, his brother Kimbal, and members of Tesla's board of directors are among the group's initial targets. Its dossier reportedly contains 32 addresses associated with Musk and Tesla leadership.
Beginning in January 2025, Tesla dealerships, vehicles, and charging stations became targets of arson, firebombings, gunfire, and vandalism across the country.
In March 2025, then-Attorney General Pam Bondi announced federal charges against three suspects accused of attacking Tesla properties with Molotov cocktails , describing the violence as domestic terrorism.
Tyler Durden
Tue, 11/03/2026 - 19:40
Close
Wed, 04 Nov 2026 00:15:00 +0000 Korybko: Washington's Claims Of Canadian Meddling Are Interesting & Ironic
Korybko: Washington's Claims Of Canadian Meddling Are Interesting & Ironic
Korybko: Washington's Claims Of Canadian Meddling Are Interesting & Ironic
Authored by Andrew Korybko via Korybko (Substack) ,
They're interesting because few could have predicted that Canada of all countries would one day meddle in American elections, and they're ironic because the examples cited are a sliver of how the US regularly meddles in other countries' elections.
The US Embassy in Canada released a fact sheet in late October concerning "Canadian Activities In U.S. Politics " wherein nearly a dozen examples of its recently meddling in American politics are shared. They have to do with Ottawa's reciprocal tariffs explicitly targeting Republican states and its officials extending partisan support to the Democrats ahead of early November's midterms. Most observers expect, both per the decades-long documented trend and global fuel crisis, that the Republicans will get trounced.
It's in this context and less than two weeks before the vote that the US Embassy released its fact sheet. Quite clearly, Trump 2.0 wants to preemptively place partial blame for his party's expected losses on Canadian meddling , which can in turn discredit the Democrats in the eyes of some voters as well as possibly justify additional tariffs against Canada on the pretext of retaliation. It deserves mentioning that these examples of Canadian meddling came amidst Trump's repeated talk of annexing that country.
That's what makes these claims interesting and ironic: they're interesting because few could have predicted that Canada of all cout6nries would one day meddle in American elections, and they're ironic because the examples cited are a sliver of how the US regularly meddles in other countries' elections. Economic restrictions and meetings with opposition officials are the tip of the iceberg. In this particular context, however, they might actually have an effect of sorts on the outcome of the midterms .
To explain, Canada's reciprocal tariffs can compound the economic pain that voters in Republican states are nowadays feeling as a result of the global fuel crisis brought about by the Third Gulf War that the US and Israel initiated last February, thus possibly influencing some to sit out the vote or cast their ballot for someone else out of protest. People can be finnicky like that, especially Americans who are stressed out by growing costs that directly reduce their standard of living, hoping that they'll make a difference.
It doesn't matter to some of them that Canada is explicitly targeting their states for the purpose of undermining the last two years of Trump's second presidency since some simply want to signal their displeasure with him. As for Canadian officials' meetings with the Democrats, this could energize some of the Democrats in Republican states that might not otherwise vote , perhaps inspired by the belief that they can help set into motion some grand coalition against Trump that climaxes in 2028.
In the event that the Republicans lose one or both chambers of Congress and Trump doubles down on his claim that foreign (whether Canadian and/or other) meddling was to blame, then this could help the Republicans in 2028 by rallying the base with fears of the aforementioned grand coalition against them . The belief that foreign powers are working with the opposition to undermine an incumbent government can become a potent rallying force as the US itself learned after the blowback from its own meddling.
Looking forward, while it's arguably the case that Canada is openly meddling in the US' midterms, the impact shouldn't be exaggerated, even though Trump is likely to do so for self-interested political reasons as explained. He won't acknowledge that the Third Gulf War that the US and Israel initiated against Iran would be the most reasonable explanation for the Republicans losing one or both chambers of Congress since it would bruise his ego to admit that everything hasn't gone according to plan.
We publish a variety of perspectives. Nothing written here is to be construed as representing the views of ZeroHedge.
Tyler Durden
Tue, 11/03/2026 - 19:15
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Tue, 03 Nov 2026 23:50:00 +0000 'Made In China' Hypercar Crashes In 300-MPH Test-Run
'Made In China' Hypercar Crashes In 300-MPH Test-Run
'Made In China' Hypercar Crashes In 300-MPH Test-Run
Chinese automotive news website CarNewsChina reports that BYD's Yangwang U9 Xtreme supercar crashed on a closed-loop track in China while attempting to reach a mind-boggling 500 kilometers per hour, or about 311 miles per hour.
Footage of the $3 million Yangwang U9 Xtreme shows the hypercar striking a barrier at high speed . The impact tore the vehicle to shreds, but the cockpit remained intact and the driver survived.
Per the report:
The BYD's 3 million USD supercar Yangwang U9 Xtreme with a combined peak power of 2,220 kW (2,977 hp) crashed in China, possibly during a test attempt to reach the top speed of 500 km/h . Although the car's rear axle was completely detached, the driver avoided injuries.
The hypercar produces roughly 3,000 horsepower with four electric motors and has a planned production run of 30 cars worldwide. BYD has claimed the hypercar can reach speeds of 308 mph.
Automotive news website Autoblog commented on the crash:
While the news of this accident is both good and bad, the reality is that traveling at those speeds brings science into question . The faster the car, the more it needs to handle the laws of physics and science that push back at high speed. It'll need the right aerodynamics, but most importantly, the right tires to put all that power down at those speeds without breaking or losing traction.
Notably, the Tesla Roadster is equipped with a fan-suction and skirt system that generates up to 2G of downforce , which can keep the hypercar's tires firmly loaded at high speeds, improving grip, cornering stability, and braking.
Tyler Durden
Tue, 11/03/2026 - 18:50
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Tue, 03 Nov 2026 23:30:00 +0000 California Released 24,000 Illegal Immigrants With ICE Detainers, DHS Says
California Released 24,000 Illegal Immigrants With ICE Detainers, DHS Says
California Released 24,000 Illegal Immigrants With ICE Detainers, DHS Says
Authored by Naveen Athrappully via The Epoch Times ,
Almost 24,000 illegal immigrants with criminal convictions or charges have been released into communities since Jan. 20, 2025, due to California's refusal to honor Immigration and Customs Enforcement (ICE) detainers , the Department of Homeland Security (DHS) said.
"There are more than 81,000 criminal charges or convictions associated with these non-honored detainers," the DHS said in a Nov. 2 statement.
This includes 3,295 burglaries, 1,097 assaults, 1,088 drug trafficking charges, 169 homicides, and 147 sexual assaults.
An ICE detainer asks a law enforcement agency to notify ICE before releasing a removable illegal immigrant from any prison or confinement facility, or to hold an illegal immigrant up to 48 hours past their scheduled release so DHS has time to take custody of the individual.
ICE typically issues such detainers in instances where an illegal immigrant has been convicted of crimes by a court or if they pose a public or national security threat.
Some of the ICE detainers in California include an El Salvador national who has been convicted of cruelty to a child and murder, a Cuban convicted of second-degree murder, an Armenian convicted of voluntary manslaughter, and a Libyan convicted of assault with a firearm on a person.
ICE had filed detainers for these individuals in 2025 or 2026. However, DHS said these detainers were not honored, and the individuals were released from jail .
"Sanctuary politicians have not only refused to cooperate with federal law enforcement to target and arrest the worst of the worst - but they've released nearly 24,000 criminal illegal aliens onto the streets of California to terrorize innocent Americans," DHS Secretary Markwayne Mullin said in the statement.
In California, state and local resources must not assist immigration enforcement activities unless they're lawfully required to do so , according to guidance issued by California Attorney General Rob Bonta in July.
The guidance asks agencies to limit the collection, retention, and disclosure of information that could help identify or apprehend people without lawful immigration status.
"Where there is no legal obligation to comply with a request from immigration authorities, agencies should require appropriate legal process - such as a judicial warrant, judicial subpoena, or court order - before complying," the guidance said.
California Gov. Gavin Newsom justified his state's sanctuary policies in a January podcast with conservative commentator Ben Shapiro. Newsom said that California does cooperate with federal immigration under certain circumstances, claiming that the state has coordinated more than 10,000 prisoner transfers . Newsom said he disagreed with calls from some Democrats to abolish ICE.
"California has cooperated with more ICE transfers probably than any other state in the country. And I vetoed multiple pieces of legislation that have come from my legislature to stop the ability for the state of California to do that," Newsom said.
In certain cases, individuals who face ICE detainers but are released from jail may go on to commit other crimes.
In June, an illegal immigrant from El Salvador was charged with murdering a veteran in Utah. ICE had previously lodged detainers for this illegal immigrant twice in California. But on both occasions, the state refused to honor the requests and released the individual , DHS said in a July 20 statement.
In addition to California, DHS has also criticized New York state for allegedly failing to comply with ICE detainers.
In an Oct. 9 statement, the department said New York did not honor 14,916 immigration detainers issued by ICE between Jan. 20, 2025, and Sept. 14, 2026 . These detainers were associated with 47,750 criminal charges and convictions.
"Sanctuary politicians create an environment for criminal activity to thrive, not for American citizens to be safe. President Trump made it clear that he would restore law and order in our cities and in our states. When you have sanctuary cities and politicians, you endanger the safety of the public," Mullin said in the statement.
Tyler Durden
Tue, 11/03/2026 - 18:30
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Tue, 03 Nov 2026 23:10:00 +0000 Eisenkot Refuses To Join US-Backed 'Unity Government' With Netanyahu
Eisenkot Refuses To Join US-Backed 'Unity Government' With Netanyahu
Eisenkot Refuses To Join US-Backed 'Unity Government' With Netanyahu
Via The Cradle
Israeli Yashar party chairman Gadi Eisenkot says he will not serve in any government led by Prime Minister Benjamin Netanyahu, even at the personal request of US President Donald Trump , Israel's Public Broadcaster (KAN) reported Monday.
"I will not sit in a government led by Netanyahu ," Eisenkot reportedly said during a recent closed-door meeting, according to sources familiar with the discussion.
i24 News/Flash90
Eisenkot said he would accept an invitation to meet Trump, but stressed he would not tolerate US interference in the formation of Israel’s next coalition.
“If Trump calls me, I will respect the president and come, but I will insist that this is an internal Israeli matter and will avoid interference ,” he said.
The comment follows reports of US discussions with Israeli officials on forming a unity government joining Netanyahu and Eisenkot , with Trump reportedly eager to see a stable government in place.
The Washington Post reported that Netanyahu had told US officials he would choose Eisenkot as his coalition partner should the war on Iran restart, believing the arrangement would help him put together a supposedly “moderate” government.
Netanyahu’s Likud-led bloc won 53 of the Knesset’s 120 seats in the election, while Eisenkot’s opposition bloc took 48, leaving both short of the 61 required for a majority, with Likud finishing as the largest single party on 27 seats and Yashar second on 21.
Palestinian-led parties won a record 19 seats, nearly double their previous 10, as turnout among Palestinian citizens of Israel surged to around 80 percent from 53 percent in the last election, lifting overall turnout to roughly 77 percent, the highest since 1999.
The record turnout came despite a campaign of settler harassment and sabotage at the polls , as settlers were deployed to undermine the vote in Palestinian communities across the 1948 territories, where residents nonetheless formed massive lines at polling stations to cast their ballots.
Opposition leaders Naftali Bennett, Yair Golan, and Avigdor Liberman have pledged to put Eisenkot forward to President Isaac Herzog as their nominee to form the next government .
Eisenkot could command 67 seats with the backing of Palestinian-led parties, but Liberman has ruled out joining a government reliant on Palestinian support or one shared with Netanyahu .
Liberman argued that a government propped up by Palestinian-led parties would “survive less than a year ,” even as those parties have signaled their readiness to cooperate with the opposition to ensure the removal of Netanyahu from power.
Tyler Durden
Tue, 11/03/2026 - 18:10
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Tue, 03 Nov 2026 22:50:00 +0000 Jim Bovard: Cynicism Should Win The Mid-Term Elections
Jim Bovard: Cynicism Should Win The Mid-Term Elections
Jim Bovard: Cynicism Should Win The Mid-Term Elections
Authored by Jim Bovard
In an era of clueless voters and profoundly dishonest candidates, cynicism is one of the last best checks on political power run amok. Regardless of the final vote count in Tuesday’s mid-term congressional elections, both Republicans and Democrats have earned all the distrust they will reap.
Any hope that elections would safeguard the Constitution should have perished after 9/11 . Consider the race for a U.S. Senate seat in Michigan. Democratic candidate Abdul El-Sayed talks as if the Second Amendment only protects Americans’ right to own the type of antique flintlock muskets used to fight the British Army at Yorktown. Republican candidate Mike Rogers has devoted his congressional career to championing the Deep State and obliterating the Fourth Amendment’s prohibition on warrantless unreasonable searches. After Edward Snowden exposed a vast National Security Agency crime spree, Rogers exonerated Uncle Sam’s secret surveillance: “You can’t have your privacy violated if you don’t know your privacy is violated.”
But whoever Michigan voters send to the Senate will take an oath to uphold and defend the Constitution, right? As former U.S. senator Bob Kerrey explained in 2013, “The problem is, the second your hand comes off the Bible, you become an asshole.”
via Reuters
Denouncing cynicism is an anesthetic the political elite inject to stifle hostile reflexes. When California Gov. Gavin Newsom addressed the United Nations’ “High-level Event on Climate Action and Just Transition ” (hey, I didn’t make up that name), he hailed the lackeys in the audience: “Thank you for being the antidote to that cynicism, fear, and anxiety.” Newsom’s environmental mandates pointlessly impoverish Californians but assure him deity treatment in the media.
Americans are schooled to trust the regimes that domineer their lives. But that storyline becomes harder to prop up each time the political parties rotate power in Washington.
In modern American history, the most audacious liars have been the greatest self-proclaimed enemies of cynicism. “The only deadly sin I know is cynicism,” declared President Lyndon Johnson in a 1967 press conference on how the Vietnam War was going great. In a 1973 nationally televised speech, President Richard Nixon declared , “I reject the cynical view that politics is inevitably, or even usually, a dirty business” before deluging viewers with false claims on the burgeoning Watergate scandal.
In 1994, President Clinton derided citizens who “indulge themselves in the luxury of cynicism ” for betraying the American soldiers who died on D-Day in 1944. In 1997, Clinton declared that people can make America “better if we will suspend our cynicism .” This is the Peter Pan theory of public service: if only people believed government has magical powers, politicians could achieve miracles. After his impeachment, Clinton castigated “fashionable cynicism” as “self-indulgent arrogance that has no place in America.” But it wasn’t cynics’ fault that Clinton helped make presidential candor an endangered species .
George W. Bush exploited the revulsion against Clinton, promising America “a fresh start after a season of cynicism ” when he launched his presidential campaign in 1999. In his first inaugural address, President Bush touted positive thinking about politicians as civic duty, lecturing Americans on their “calling” to make a “determined choice of trust over cynicism.” In the same 2002 State of the Union where he uncorked “the Axis of Evil” to pave the way to war with Iraq, Bush declared , “Deep in the American character, there is honor, and it is stronger than cynicism.” Bush repeatedly rebuked the cynicism of anyone who refused to cheer his invasion of Iraq .
Barack Obama exploited the revulsion against Bush, proclaiming in 2007 that “my rival in this [presidential] race is not other candidates. It’s cynicism .” Six years later, President Obama exhorted college graduates to beware of the “creeping cynicism” and people who “warn that tyranny is always lurking just around the corner.” He did not seize that opportunity to show how he acquired the prerogative to order drone killings of American citizens by his own decree.
Politicians denouncing cynicism are akin to used car salesmen telling customers to ignore the engine clunking during a test drive. Cynicism is blowback from decades of deceit. Most of the major political power grabs in modern history have been propelled by official falsehoods, as have all the major wars since 1950. Perpetual bipartisan chicanery explains why only 17% of Americans trust the federal government nowadays.
Cynicism often arises because politicians judge themselves by their rhetoric while citizens judge them by their (mis)deeds. The alternative to cynicism is pretending that politicians are more honest than they sound. Are politicians, like underage delinquents, entitled to have all their prior offenses expunged?
Cynicism is necessary because the political playing field is often tilted in favor of servility. Politicians are almost never held personally responsible for their falsehoods, follies and fiascos. Scores of millions of people will unquestioningly obey no matter what Washington commands.
Cynicism is a form of political damage control. An ounce of cynicism can save a pound of repenting. Cynicism functions as a brake on political steamrollers. Timely doubts loudly expressed can stop presidents from driving a nation over a cliff or into a foreign quagm ire. It is not possible to be too cynical about President Trump’s betrayal of his promise to “end the endless wars.”
Politicians seek to banish cynicism without repenting their rascally ways. Why should citizens intellectually disarm themselves in the face of political aggressors? Why should they accept the passive obedience that was preached for centuries to the politically downtrodden? Are citizens obliged to continually cast their common sense and memories overboard as if they were seeking to placate an angry pagan god?
The derision of cynicism goes to the heart of citizens’ role in a democracy. If citizens have a duty to believe, then politicians are entitled to deceive. If citizens are obliged to trust, they become sacrificial offerings for the next political con job. A cynic is often merely someone who trusts politicians as little as politicians trust each other.
Cynicism is simply a discount rate for political honesty. Even cynics should not presume that all politicians are perfidious all the time. There are decent folks in every profession. Instead, citizens should judge politicians like federal judges treat accused criminals — 97% of whom are convicted.
Cynicism can be pro-freedom, spurring resistance rather than resignation. Citizens should be cynical when politicians endlessly absolve themselves for all the damage they inflict on America. Citizens should be cynical when politicians propose sweeping new federal programs to replace disgraced boondoggles. How can anyone be too cynical about Trump’s promise to send each American adult $5000 if the Republicans maintain control of Congress?
Regardless of who wins on Tuesday, Washington politicians will continue wasting hundreds of billions of dollars every year and ravaging the value of the U.S. dollar . They will continue bankrolling federal agencies that trample the Constitution and they will perpetuate policies that pointlessly drag America into foreign conflicts.
Regardless of who wins on Tuesday, neither Republicans nor Democrats deserve any honeymoon from cynicism. The more cynical Americans become, the less power politicians can seize.
Tyler Durden
Tue, 11/03/2026 - 17:50
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Tue, 03 Nov 2026 22:20:00 +0000 Do Young People Understand the Democratic Socialists Of America?
Do Young People Understand the Democratic Socialists Of America?
Do Young People Understand the Democratic Socialists Of America?
Authored by Christian Milord via The Epoch Times ,
Polls show that many young folks in their 20s and 30s favor the Democratic Socialists of America (DSA). Some polls estimate that more than 40 percent of folks in that demographic think that socialism, rather than capitalism, is a beneficial system for society .
However, do these young people truly understand what the DSA stands for and what their policies would do to society? Have they studied the history of socialism around the globe?
Many DSA candidates appear to be tone deaf regarding the socialist model and its repercussions in scores of countries.
Do young people understand that socialism is one small step away from communism, wherein every aspect of one's life is monitored, and the government controls the means of production?
Do they understand that the first values to be curtailed are freedom of religion and speech ?
Socialist leaders quickly seize the information narrative and squash media outlets that don't adhere to their party's line.
Will youngsters have access to their favorite apps or only those approved by the state?
Do young people realize that "democratic socialist" is a contradiction in terms?
Democracy is the rule of the people, for the people, by the people. By contrast, socialism is governance carried out by a small circle of like-minded autocrats who crave power and believe they are smarter than everyone else . These authoritarians attempt to convince people that they care about the masses, yet in reality, their goal is to control them through edicts and propaganda.
In the mid-term elections, several DSA candidates are vying for seats at the federal, state, and local levels of government.
Are young people aware that these candidates want to abolish or defund law enforcement at all levels, as well as open the borders and prisons? How will youngsters fend for themselves when criminals are let loose in their communities? Have they thought about this scenario?
Have young folks considered that, in a socialist economic model, they will have to pay for many goods twice, including groceries?
First, their taxes would subsidize government-run grocery stores, similar to the experiment in New York City under Mayor Mamdani. When they shop, they'll have to pay for the items before leaving the store. In the private sector, we pay for our products just once. How does this square with the DSA mantra of affordability?
What do young people think about the concept of free education, healthcare, and housing with price controls? Do they really believe that anything is free in life?
There is no free lunch. Taxpayers, including young people, will have to pay higher taxes to fund those "free" programs. Moreover, their choices will be limited because a bureaucracy will decide who receives resources , given the lack of free-market options.
Under the DSA, these young folks will be judged by their color, gender, and race (pernicious diversity, equity, and inclusion, or DEI) rather than their character, experience, and merit.
Do they want intellectual diversity or intellectual groupthink?
Do these young adults want special favors and to be treated like children forever, or do they want to stamp their own imprint on the world through serious study and hard work ?
Do they want to be coerced into a minimalist lifestyle, or do they want to choose their own lifestyle?
DSA folks have recently become concerned about fossil fuel energy prices. Yet for years, "progressives" have fought to get rid of internal combustion engines and arm-twist consumers into electric vehicles. They yearned for high fuel prices. Why the sudden flip-flop on energy?
Does the younger generation understand that the DSA is anti-family?
Socialists believe that the state - not the parents - should be in charge of the upbringing of children . Do young parents want secular moral relativists to manage the intellectual and spiritual development of their children?
In their platform, DSA politicians claim that they want to raise taxes only on the wealthy, but it would also impact the middle class . Do young people understand that excessive regulatory and tax burdens have consequences?
Folks will have less money to invest, save, or spend; government will become bloated and less efficient; and businesses will hesitate to expand and hire. Reduced productivity also means fewer taxes to fund social services. In other words, high taxes are counterproductive.
Does the upcoming generation understand that the DSA's goal is to dismantle America's time-tested traditional private and public institutions and start over from scratch?
However, their policies of centralized control defy common sense and the human drive to compete. Are youngsters aware that the socialist landscape for over a century has been littered with broken promises, brutality, criminality, and death?
It is built upon a shaky foundation of contradictions, corruption, envy, and fraudulent victimology. If young people examine the truth about socialism, they will find that capitalist free enterprise is the best system devised to deliver opportunities to as many people as possible .
By contrast, communism/socialism is the worst model ever devised to deliver the least amount of benefits to the populace.
If our young people become aware of the devastating consequences of regressive socialism, will they still yield to the DSA siren song, or will the socialist favorability rating plummet? Perhaps the future will render an answer.
Tyler Durden
Tue, 11/03/2026 - 17:20
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