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If you watched the Golden Globes recently, you may have noticed something curious alongside the broadcast: real-time betting odds accurately<\/a> spoiling the winners before the envelopes were even opened. Those odds came from a rapidly growing type of platform known as a prediction market. While many markets focus on innocuous topics like the Golden Globes, others concern global affairs, like the price<\/a> of oil at the end of 2026, or weather, like the amount<\/a> of rain in Denver this month.<\/p>\n The two largest<\/a> prediction markets, Kalshi<\/a> and Polymarket<\/a>, are nearly inescapable. While the idea behind prediction markets has existed<\/a> for decades, court decisions<\/a> and regulatory approvals allowed Kalshi and Polymarket to offer politics and sports contracts in the United States, and trading volume exploded<\/a>. Today, both companies routinely run advertisements during<\/a> major sporting events, in basketball arenas<\/a>, on screens<\/a> in Times Square and on social media<\/a>.<\/p>\n These platforms\u2019 meteoric rise has been met with controversy. Minnesota politicians, led by Gov. Tim Walz, went so far as to ban<\/a> prediction markets effective Aug. 1. Critics typically say<\/a> prediction markets are particularly susceptible to market manipulation, insider trading and conflicts of interest. Serious concerns about these platforms are reasonable, and opposition to them is well-intentioned. However, prediction markets are not only here to stay \u2014 they may ultimately prove to be a force for social good.<\/p>\n