Prediction market bettors are the new political pundits. Why are we listening to them?
Summary
Sites like Kalshi and Polymarket offer faux populism as elites reap the benefits – and voters risk being misled Online betting is a bit like Donald Trump. The prediction markets – platforms where users bet on whether events will occur – pretend to be populist, pushing the nabobs aside and representing the “wisdom of the crowd”. “This data is bottom-up, not elites-driven,” a Kalshi spokesperson told Reuters . But in fact, the markets are controlled by a few, skillful traders.
Description from The Guardian.
Who is covering this
-
Prediction market bettors are the new political pundits. Why are we listening to them? | Judith Levine
Sites like Kalshi and Polymarket offer faux populism as elites reap the benefits – and voters risk being misled Online betting is a bit like Donald Trump. The prediction markets – platforms where users bet on whether events will occur – pretend to be populist, pushing the...
Related stories
As early voting surges, Trump reshuffles his schedule to add back rallies in Iowa and Kansas
Judge denies federal request to segregate California ballots, says it would 'wreak havoc' on voting
Trump targets midterm voters with final campaign speech at Reflecting Pool
Trump administration promised farmers $15 billion in weeks before midterms
Trump calls for prosecution of Alaska Senate candidate Peltola over Sullivan name controversy
Comments
Comments need JavaScript.