Are Prediction Markets Ruining Everything? with Chris Beam

Hasan sits down with Bloomberg writer, Chris Beam, to discuss how prediction markets are wreaking havoc on trust in institutions, their economic impact on young people, and what’s being done to rein in these platforms.

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Co-Creator & Executive Producer: Hasan Minhaj
Co-Creator & Executive Producer: Prashanth Venkataramanujam
Executive Producer/Director: Tyler Babin
Executive Producer/Showrunner: Scott Vrooman
Producer: Kayla Feng
Producer/ Copywriter: Annie Fick
Cinematographer: Austin Morales
Editor: Hobson Feltus and Zae Jordan
Talent Coordinators: Tanya Somanader and Kori Schulman
Executive Assistant: Samuel Piland

00:00 Introduction to the rise of prediction markets
14:10 Introducing Chris Beam
15:20 Ad
16:25 Trust in American institutions with prediction markets
18:50 Donald Trump’s unpredictability’s effect on prediction markets
20:08 What happens when prediction markets move from sports to virtually anything in life?
22:36 Accuracy of political predictions on Polymarket and Kalshi versus polling
27:40 How wise are crowds?
28:36 What do prediction market platforms do to prevent insider trading?
36:43 Ad
38:55 Prediction markets as a competition to journalism
40:45 Insider trading versus market manipulation in prediction markets
42:42 “Trading”, NOT gambling
46:12 Could Kalshi and Polymarket have succeeded without Donald Trump?
48:02 Who are the losers in prediction markets?
49:44 If I can’t get paid, why learn?
52:00 Kalshi’s goal to financialize everything including differences of opinion
54:43 Ad
56:47 Prediction markets as the best shot at collective knowledge
59:10 High minded use cases of prediction markets beyond sports and culture
1:01:00 Are prediction markets here to stay even with possible U.S. government crack downs?
1:02:11 Will the public turn on prediction markets?
1:04:46 What can save young men from prediction markets?

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THE SHOW:
Hasan Minhaj Doesn’t Know is a long-form interview podcast hosted by two-time Peabody Award-winning comedian Hasan Minhaj. The show features in-depth conversations with politicians, public figures, financial experts, scientists, intellectuals, authors and celebrities. Rather than sticking to standard talking points, Minhaj aims to ask deeper, more probing questions that reveal personal perspectives and challenge conventional narratives. The tone is direct and curious, and focused on uncovering what guests really think beyond rehearsed answers.

KEYWORDS:
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