Cryptonews

Prediction Markets Miss: Lula Wins Brazilian Presidential Runoff, EWZ Perpetual Contract on Hyperliquid Plunges Over 22%

According to Cryptonews, Brazilian President Lula defeated the son of former President Jair Bolsonaro in the presidential runoff, becoming the first Brazilian president to win a fourth term and secure the runoff after trailing in the first round. Prior to the election, prediction market Polymarket initially gave Flávio Bolsonaro an 80% probability of winning, but market expectations quickly reversed as voting results were announced.