Opinion
Jacobin on MSNOpinion

Gambling on the wisdom of crowds is a bad bet

In the run-up to the 2024 US presidential election, Donald Trump cited political prediction markets (PPMs) as evidence that he would defeat Kamala Harris and return to the White House: “A gambling ...
In this way, prediction markets are the perfect technology for a low-trust society, simultaneously exploiting and reifying an environment in which believing the motives behind any person or action ...
Regulatory shifts and a decisive court win for Kalshi have put US prediction markets back in play. With event-based contracts edging closer to the mainstream, venues are racing to deliver ...