Cross-market traders are betting on the US midterm elections, adjusting their positions on Polymarket and Hyperliquid.

On November 3, on the eve of the US midterm elections, the implied probability of Congressional control in Polymarket betting rose by 10 percentage points. A cross-market trader invested $84,200 betting on the outcome of Congressional control, and about 6 hours later established a new directional position on Hyperliquid while maintaining an existing million-dollar contract position.