The Brazilian election turned into a rout, causing the stock market to plummet by 20%. Hopefully, the US midterm elections won't follow a similar pattern. Lula defeated Flávio Bolsonaro to win her fourth presidential term (Bloomberg). The EWZ ETF, which tracks the Brazilian stock market, fell nearly 20% overnight, and EWZ contracts on the Hyperliquid perpetual contract exchange dropped from around $46 to $40.46. This time, the pricing in the election wasn't determined by the NYSE, but by Polymarket odds and Hyperliquid's weekend contracts. During the vote count, Lula's winning probability rose from 34% to 99%, meaning retail investors had already completed their votes on-chain, while the US stock market didn't open until 9:30 AM on Monday. Traditional markets may be closed over the weekend, but risk doesn't!