Prediction Markets Are a Lie. You’re Being Sold a Casino.
Prediction markets aren’t forecasting tools โ they’re casinos wearing a regulatory trench coat. The label “prediction market” is a legal loophole that launders gambling into respectable infrastructure, letting platforms like Kalshi evade gambling laws while embedding speculative betting into your news feed, your brokerage, and your political discourse. The more accurate these markets get, the more they depend on the exact gambling behavior they claim to transcend.