I Championed Prediction Markets. Look What They've Become

I helped build the case for freeing prediction markets, hoping they would surface vital economic information. Instead, platforms like Kalshi and Polymarket have become backdoor sportsbooks, while asymmetric information scandals, like a White House teleprompter operator betting on the President, reveal deep flaws. With Trump Media potentially monetizing official policy announcements, the dream of an information aggregation machine has been overshadowed by gambling addiction and corporate greed.