"These platforms allow their users not just to bet on whoever's going to win the Super Bowl, but also on world events. Heavily regulated under the Biden administration, these apps have enjoyed a huge boom in popularity since Trump came to power. They're called prediction markets because these sites are thought of as more akin to stock markets. The idea being that you put money based on what you think will happen."
"He explains why the fact that media organisations are partnering with prediction market platforms is a worrying trend. Let's say you are a donor to a major Senate candidate. You could put millions of dollars into the prediction market for whether your preferred candidate would win and swing the odds. And so you can really shape media coverage in a way that you can't with traditional polling."
On 3 January, Donald Trump ordered a surprise attack on Caracas to kidnap Nicolas Maduro, creating massive uncertainty for Venezuelans. Someone placed a series of bets on a prediction market that Trump would oust Maduro and won nearly $500,000. Prediction market platforms allow users to wager on world events and function more like stock markets. These apps boomed in popularity since Trump's presidency and face heavy regulation under the Biden administration. Media partnerships with these platforms raise concerns that wealthy donors could manipulate odds to shape coverage and influence public perception. Trump has signaled interest in launching his own platform.
Read at www.theguardian.com
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