Polymarket, Kalshi Showcase the Power of Prediction Markets

Mention markets are the high-octane, fast-twitch speed competitions of the prediction market world. But they’re just one corner of it. Users of Kalshi and its primary rival, Polymarket, can bet on events major and minor, from politics to sports to culture to the weather. Recent markets on Kalshi have included whether certain words would be used during a Palantir Technologies Inc. earnings call, whether Elon Musk would win his court case against OpenAI and whether the highest temperature in Seattle on Feb. 4 would be within a certain range. Polymarket users have bet on whether the US would strike Iran on a particular date, whether a given Trump cabinet member would be the first to leave office and whether Jesus Christ would return before 2027. Bloomberg Businessweek Contributor Chris Beam joins Bloomberg Businessweek Daily to discuss. He speaks with Carol Massar and Tim Stenovec.
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