Anything can constitute an item of bet and that's what makes betting/gambling abstract in the sense of no exchange of goods is involved unlike what's in trading. It's a fantasy (so to say) to be satisfied and that's how sites come up with the mechanism to enable bettors satisfy themselves. It's not a bad idea including political events on betting sites. At least that should get bettors to be politically aware of their surroundings too. I like the idea.