Lula Wins Brazil's Presidential Election, Becoming First President to Begin a Fourth Term

Odaily reports: Luiz Inácio Lula da Silva has won Brazil's presidential election, beginning his fourth presidential term and becoming the first Brazilian president to win a fourth term. With 99.99% of votes counted, Lula received 51.78% of the vote, totaling 64,248,884 votes; Senator Flavio Bolsonaro received 48.22%, totaling 59,822,138 votes.

Before the vote, Polymarket at one point gave Flavio Bolsonaro an 80% probability of winning; after voting results began to be announced, market probabilities shifted toward Lula. Lula received 45.16% in the first round, lower than Flavio Bolsonaro's 47.03%, and ultimately came back to win in the second round.

After news of Lula's victory was announced, perpetual contracts on Hyperliquid linked to the iShares MSCI Brazil ETF (EWZ) fell more than 22%. The ETF tracks large- and mid-cap Brazilian companies. (Bitcoin.com News)