On today’s episode of Hear Me Out: placing bets.

Betting on the results of elections is illegal in the United States – though that hasn’t stopped sportsbooks overseas from cashing in. And that doesn’t mean that Americans haven’t placed bets on election results in the U.S., either; that’s a tradition that dates back centuries.

There’s a push now to make elections betting legal on American soil — and for American companies to run online casinos. Futures markets are complicated, and it might feel gross, or even dangerous, to gamble on democracy… but of all the types of gambling we do allow, what if this one is actually the biggest good to society?

Eric Zitzewitz of Dartmouth joins us to bet on the value of election betting.

If you have thoughts you want to share, or an idea for a topic we should tackle, you can email the show: hearmeout@slate.com

Podcast production by Maura Currie.

Want more Hear Me Out? Subscribe to Slate Plus to access ad-free listening across all your favorite Slate podcasts. Subscribe today on Apple Podcasts by clicking “Try Free” at the top of our show page. Or, visit slate.com/hearmeoutplus to get access wherever you listen.

Learn more about your ad choices. Visit megaphone.fm/adchoices