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

Gambling is infiltrating American life. Ads for online sportsbooks are everywhere. Prediction markets – which are not legally considered gambling – now allow betting on everything from the unemployment numbers, to the war in Iran, to how many times Elon Musk will tweet this week. Lots of news outlets are getting in on the action: CNN, CNBC, the AP, and others are partnering with prediction markets to use their stats in coverage. What could go wrong?

On today’s show, we’re joined by three journalists who cover gambling and prediction markets to answer that question. They tell stories about how gambling has already transformed sports, the unsettling ways betting seems like it’s already influencing the news and politics, and the not-so-crazy arguments for how it could lead to better informed citizens.

Also: hours after we posted this episode, federal authorities charged a soldier -- Master Sgt. Gannon Ken Van Dyke -- with being the mystery bettor we talk about in the show, who made $400,000 on Polymarket by trading on the capture of Venezuelan President Nicolás Maduro. When asked about it, President Trump said, "The whole world unfortunately has become somewhat of a casino."

Question Everything is a production of KCRW and Placement Theory. And don’t forget to sign up for our newsletter.

Guests:

• Joon Lee, independent sports journalist and Youtuber. Find his channel here https://www.youtube.com/@iamjoonlee
• Danny Funt, author of Everybody Loses: the Tumultuous Rise of American Sports Betting
• Kate Knibbs, senior writer at Wired

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