Do you have a gut feeling about who will win your state’s midterm elections? Or when the Federal Reserve will next cut interest rates? Or which actor will nab an Oscar next year? Prediction markets hope you do — and that you’re confident enough in your intuitions to stake money on them.
Prediction markets, which allow you to place wagers on the outcome of future events, have existed in the U.S. in various forms for decades. But recent technological advances and legal changes under the Trump administration have allowed a host of new players — Kalshi, Polymarket and DraftKings Predictions among them — to turn the concept into massive betting hubs any American can use.
