Polymarket and Kalshi have exploded onto the scene as ‘Prediction Markets’. These companies have found a way through a legal loophole to compete against DraftKings and FanDuel, two of the largest online gambling platforms. The popularity of Prediction Markets has caught the eye of Wall Street with companies such as Goldman Sachs and Susquehanna trying to figure out how they can trade on these new platforms. Coinbase and Robinhood are also adding Prediction Markets to their platforms as they are competing to become the ‘everything app’. Additionally, there is concern that college students and teens could be fueling the growth of Prediction Markets. This episode reviewed articles from The Wall Street Journal, CNBC, and Yahoo Finance.
