Are Prediction Markets Gambling? A Lot Rides on the Answer.

About this episode

Prediction markets such as Kalshi and Polymarket have gained huge popularity over the past year. These marketplaces allow you to wager on just about anything — whether it’s who will win a football game or the weather in New York City. David Yaffe-Bellany, a technology reporter for The New York Times, discusses the legal challenge these platforms now face and how it could determine their future. Guest: David Yaffe-Bellany , a technology reporter for The New York Times. Background reading:  A clash between prediction markets and states has set off a furious political battle. Donald Trump Jr.’s firm led a $1 billion funding round for Polymarket. Photo: Eric Helgas for The New York Times For more information on today’s episode, visit nytimes.com/thedaily . Transcripts of each episode will be made available by the next workday. Subscribe today at nytimes.com/podcasts or on Apple Podcasts, Spotify and Amazon Music. You can also subscribe via your favorite podcast app here https://www.nytimes.com/activate-access/audio?source=podcatcher . For more podcasts and narrated articles, download The New York Times app at nytimes.com/app. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.