The Bull Case For Prediction Markets

In this Bankless episode, Ryan and David dive into how decentralized prediction markets like Polymarket and Kalshi let anyone bet on future outcomes—from elections to ETH price targets—using peer-to-peer order books instead of traditional sportsbook odds. They break down who the big players are, how Kalshi cracked U.S. regulation, and why these markets might actually crowd-source better info rather than just serve as a gambling pit.

Along the way they compare prediction markets to sportsbooks (spoiler: the house edge isn’t the only weird thing in Vegas), unpack ongoing regulatory battles, and debate whether this tech is a public good for decision-making or simply a new way to lose money. If you’re curious about where crowd wisdom and finance collide—and what it could mean for society—this chat is your crash course.

Watch on YouTube