Betting operators target outcomes of 2020 election

While legal wagers on the election aren't offered through U.S. sportsbooks, betting operators have launched free contests to drive sign ups and engagement.

Driving the news: DraftKings' $100,000 pool has attracted nearly 400,000 entries, and those who pick the winner overall and in 11 states have a chance to win.

• FanDuel's "Bet The Ballot" contest asks, "Who will win the U.S. presidency? (Joe Biden: -175; Donald Trump, +138)," plus other questions like, "Will Trump win at least one state Hillary Clinton won in 2016?"

Meanwhile in Europe, it's legal to bet on the U.S. presidential election, and more than $1 billion is expected to be wagered, according to British betting firm GVC.

• England-based Betfair has already seen $369 million worth of bets, with 50.6% of the money bet on Biden as of 3pm ET on Monday.
• Action has also caught fire at offshore sportsbooks like Betonline.ag, which says the election has surpassed the Super Bowl in terms of dollars bet.

What to watch: Sports betting is on the ballot in three states: Maryland, Louisiana and South Dakota.