The one miss is the useful part. In South Carolina, Republican Darline Graham, appointed in July to the seat held by her late brother Lindsey Graham, was priced at 69.5%. Democrat Annie Andrews won, the first Democrat the state has sent to the Senate since 1998. A favorite at those odds should lose roughly three times in ten, so a single upset is calibration working rather than breaking. However, this was a unique case as Graham was objectively a weak candidate with no experience or qualification other than being the sister of the late former senator Lindsay Graham, and endorsed by Trump, which in this cycle was not a positive thing.
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The 5.3% Gap Between Polls and Price Discovery on Predictions Markets
The one miss is the useful part. In South Carolina, Republican Darline Graham, appointed in July to the seat held by her late brother Lindsey Graham, was priced at 69.5%. Democrat Annie Andrews won, the first Democrat the state has sent to the Senate since 1998. A favorite at those odds should lose roughly three times in ten, so…
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