I have some uninvested cash in an IRA, and I have opinions about upcoming political developments that are tracked in prediction/betting markets. Is there a way for me to invest IRA funds into these markets?
Some IRA custodians offer "self directed IRAs" also commonly known as IRAs with "Chceckbook control", meaning you have a checkbook that draws on the IRA funds to write to other investments. This is not the right forum to recommend specific providers.
These are most often used to buy real estate - e.g. whole buildings. You can't use them to buy artwork, collectibles or rare coins (but you can use them to buy American Eagles and physical bullion). I can't tell if prediction markets have been tested, but as a financial derivative without a physical aspect, it seems like the IRS wouldn't care.