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How polling failures, gambling legalization and political gridlock paved the way for the explosive rise of prediction markets

  • Written by Parker Bach, PhD Student in Media and Communication, University of North Carolina at Chapel Hill
How polling failures, gambling legalization and political gridlock paved the way for the explosive rise of prediction marketsAt their best, prediction markets aggregate collective intelligence to weigh the likelihood of future events.Fairfax Media/Getty Images

Though prediction markets have been legal in the U.S. for less than 18 months, they can’t stop making news and making money.

On prediction markets such as Kalshi and Polymarket, users can stake real money on...

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