Interactive Brokers (Nasdaq: IBKR), an automated global electronic broker, announced the success of its ForecastEx prediction market. Since its launch on October 4, 2024, ForecastEx has a total volume of over USD 560 million in presidential election contracts traded as of midday on November 6, 2024, with no technical issues reported.
Key Highlights:
- ForecastEx Performance: ForecastEx Election Contracts proved to be a good predictor of election outcomes offering publicly visible prices which clarify real-time sentiment and bring accountability and transparency to a topic.
- Future of Prediction Markets: Interactive Brokers sees prediction markets like ForecastEx becoming valuable tools in the coming years, offering unique data and insights. Beyond elections, IBKR’s ForecastTrader provides contracts on economic indicators, environmental factors, and government-related issues.
Steve Sanders, EVP of Marketing and Product Development at Interactive Brokers, noted, “Since investors must commit capital to express their conviction, they are engaged and educated about a subject. ForecastEx delivered highly predictive, real-time data to both investors and the broader market.”
On election night, Interactive Brokers also achieved record overnight trading volumes, including:
- US Stocks: 188,168 trades
- US Derivatives: 161,742 trades
- Total Overnight Trades: 349,910
This occurred from 8:00 pm to 4:00 am Eastern on US markets and represents a huge increase over normal overnight trading.
