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DAVID MARCUS: Brave new world of prediction markets can make us all inside traders

First publishedJul 25, 14:26 UTC

Last updatedJul 25, 16:50 UTC · 14m ago

1 outlets over time — hover a bar for its window & outletslast updated

DAVID MARCUS: Brave new world of prediction markets can make us all inside traders

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When I was born in the 1970s, legal gambling was basically limited to Las Vegas, Atlantic City and horse racing. Then came Indian casinos, and finally, the floodgates opened with online gambling.

Reported by 1 outlet — Fox News Latest. See all sources ↓

When I was born in the 1970s, legal gambling was basically limited to Las Vegas, Atlantic City and horse racing. Then came Indian casinos, and finally, the floodgates opened with online gambling. Nowadays, with the advent of prediction markets, we can lay down a marker on almost any event on Earth.One serious upshot of the rise of companies like Kalshi and Polymarket, which would be happy to set up a market to see if Lindy’s sells more cheesecake or strudel today, is that far, far more people have the feedbox noise than ever before. To paraphrase Andy Warhol, in the future, everyone will have inside information on a prediction market for 15 minutes.Take a market like "Who will win the reality TV show "Big Brother?" Dozens, maybe even hundreds of people know this answer, thousands probably have inside info, and while, if they say anything out loud they will get sued into oblivion, what's to stop them from telling their cousin, "Hey, drop a few thousand on this contestant?"GREED MEETS GREED: DRAFTKINGS TO CLOSE ITS WRIGLEY FIELD SPORTSBOOK AT THE END OF MAY OVER ILLINOIS TAXThis isn’t a hypothetical anymore.

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In brief

What's the story?: When I was born in the 1970s, legal gambling was basically limited to Las Vegas, Atlantic City and horse racing. Then came Indian casinos, and finally, the floodgates opened with online gambling.
How widely is it covered?: 1 outlet, average source rating 6.0/10.
When was it last updated?: 14m ago.

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DAVID MARCUS: Brave new world of prediction markets can make us all inside traders
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Fox News LatestJul 25, 14:26

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