Story perspectives

Betting on Democracy: $10 Billion Wagered in Prediction Markets

12/7/2025

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Summary

Story summary

Prediction markets are gaining popularity, enabling bets on real-world outcomes such as elections.
Platforms such as Kalshi and Polymarket have seen nearly $10 billion in bets placed last month.
Critics warn that betting on political events raises ethical concerns, potentially fostering corruption and disengagement from the democratic process.
Fanatics Markets and Robinhood are entering the space, signaling a growing trend in prediction markets within the United States.

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Story summary

Prediction markets are gaining popularity, enabling bets on real-world outcomes such as elections.
Platforms such as Kalshi and Polymarket have seen nearly $10 billion in bets placed last month.
Critics warn that betting on political events raises ethical concerns, potentially fostering corruption and disengagement from the democratic process.
Fanatics Markets and Robinhood are entering the space, signaling a growing trend in prediction markets within the United States.