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This theory doesn't work unfortunately. PredictIt is not a real market. Betters are limited to $850 per contract. Also, to buy shares in both Kamala and Donald would cost you $1.06 right now. On Polymarket you can own both for $0.998.
So your 6% profit all gets eaten by transaction costs. And it's not possible to buy more than $850, so it's also impossible for a single whale to pump and dump. Polymarket is a liquid prediction market. PredictIt, on the other hand, is just a toy. That explains the weird behavior you are seeing.
If you are confident that Kamala has a greater than 41.7% chance of winning you can go on Polymarket right now and make real money.
My point is this wasn't the case a few days ago. I could have bought Harris at $0.48 and sold Trump at $0.56 (aka buy 'No' at $0.44). Selling at market today would have been profit.
As for pump and dump, I think these markets are so thin that $850 would look like a pump and there's no reason to think, if it was a pump, that there was only a single individual involved. Volume doubled for a three day stretch, so something was happening and it was unlikely a single person.
I'm not confident in anyone winning anything...again, my point. I think the actual price per contract should be $0.50.
I'm also not trying to make 'real money' on prediction markets. I don't really understand who would do that...but w/e. What I'm interested in is how that market functions and how closely my predictions skew toward reality. Though, with your suggestion, I may take a closer look at Polymarket.
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