Tech’s Winners and Losers From Trump’s Election

Prediction markets thrived, Elon got his wish, Facebook sat out, podcasts dominated, and Silicon Valley mattered.

The 2024 election was one for the gamblers. Prediction markets like Polymarket and Kalshi played a significant role in a U.S. presidential contest for the first time, correctly forecasting the outcome. Silicon Valley’s VCs loudly backed Trump, betting he’d win and deliver a return. And Elon Musk turned X into a megaphone for his Trump endorsement, putting all $44 billion on red.

Did these bets pay off? And who lost? Here’s a rundown of 2024’s winners and losers in a bonus edition of Big Technology:

Winner: Prediction Markets

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© 2024 Alex Kantrowitz
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