On platforms like Kalshi and Polymarket, users can bet on elections, interest-rate cuts, corporate earnings and almost any question with an answer that will eventually be revealed. Those bets can produce a different kind of forecast than a traditional poll. But what happens when betting on everything becomes easier and more socially acceptable?
Host Megan McArdle is joined by Robin Hanson, an economist at George Mason University and one of the earliest advocates for prediction markets. They discuss how betting markets compare with polls and experts, the risks of manipulation and insider trading, whether people should be able to bet on elections and wars, and what it would take for prediction markets to become a useful tool for business and government.
This episode was originally published on May 13, 2026.
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