Gary Black Cites Kalshi, Says Democrats Set for Senate and House Wins in Midterms—Crypto Punters Agree

Gary Black, managing partner at The Future Fund, pointed on Tuesday to growing odds of a Democratic sweep in both chambers of Congress in the November midterms.

Dems Set to Win Midterms?

Citing Kalshi, Black said Democrats have a 61% chance of taking control of the Senate and a 91% chance of winning the House.

Republicans currently hold a 53–47 majority in the Senate and control the House by a slim 218–214 margin. The midterm elections are scheduled for Nov. 3.

Kalshi bettors priced in a 62% chance of a Democrat sweep, up from 46.5% a month ago.

Meanwhile, the odds of the Democrats winning more than 52 seats in the Senate stood at 37%, alongside a14% chance of holding over 249 seats in the lower chamber.

Crypto Bettors in Sync

Bettors on Polygon (CRYPTO: POL)-based Polymarket broadly agreed with their Kalshi counterparts, assigning a 66% chance of a Democratic sweep.

Democrats were the frontrunners to take control of the House, with 93% odds. The Senate race was closer, with Dems holding a 66% chance of reclaiming control.

Kalshi and Benzinga have an existing data collaboration agreement.

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