American Cardinal Prevost Elected Pope in Major Betting Markets Upset

In a historic and unexpected turn of events, American Cardinal Robert Prevost was elected pope on Thursday, marking the first time a U.S.-born individual has ascended to the pontificate. The outcome sent shockwaves through global betting markets, where Prevost had been given less than a 2% chance across major platforms.

Over $40 million was wagered on the papal election, with long-shot bettors reaping substantial profits. The result defied widespread expectations that favored European candidates, particularly from Italy or other predominantly Catholic nations.

The election follows the death of Pope Francis on April 25, 2025, which had sparked intense speculation about his successor. Prevost’s victory represents a significant departure from tradition and underscores the unpredictable nature of such high-stakes events.