Assessing Dangerous Power of Prediction Markets

Prediction markets have exploded into mainstream American life. Platforms like Polymarket and Kalshi now allow users to bet on virtually any outcome of a future event — if President Trump will take over Greenland, who will win the Golden Globe for best podcast or even the second coming of Jesus Christ (users think there’s a 3 percent chance he returns before 2027). The platforms — which also include Robinhood, Coinbase, FanDuel and DraftKings — are growing, and gaining billions of dollars in value, at tremendous speed. Read Full Article »