You Can Bet on Everything Now. What Could Go Wrong?

Prediction markets and sports betting are rapidly infiltrating journalism and public life, fundamentally altering how news is reported and consumed. These platforms, which allow wagering on everything from election outcomes to specific phrases used by news anchors, create significant conflicts of interest and opportunities for insider trading. While proponents argue these markets provide an efficient, unbiased "wisdom of crowds," critics highlight that professional traders often exploit average users, and the focus on odds distorts the integrity of sports and political discourse. The normalization of gambling has led to athlete scandals, such as the Jontay Porter case, and pressured media outlets to prioritize betting data over substantive coverage. As these platforms forge partnerships with major news organizations, the line between objective reporting and financial speculation continues to blur, raising urgent questions about the future of information and democratic integrity.