America's prediction market bubble is here
Teona Gherasim
But the rhetoric and the reality still don't line up. There's a lot of chatter about big institutions using prediction markets as hedges for everything from inflation to elections to the weather, but the amount of money flowing through platforms such as Kalshi and Polymarket is tiny compared to the stock market or even crypto. While that makes sense given their relatively new entry into the US, even in countries where betting exchanges have existed for years, they're largely a niche product.
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