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Italian Cardinal Pietro Parolin surged in papal election betting odds after white smoke signaled a new pope's selection. He holds a significant lead on platforms like Polymarket and Kalshi, with over $34 million wagered in total. While experts say predicting the outcome is difficult due to the diverse conclave, Parolin's rise reflects bettors' confidence. Filipino Cardinal Luis Antonio Tagle remains a distant second contender.

Prepared by Emily Rhodes and reviewed by editorial team.