KQED's Forum How Much Do You Wanna Bet…On The News?
Jan 20, 2026
Danny Funt, a journalist from The Washington Post and The New Yorker, explores the intersection of betting and news. He reveals how prediction markets now bet on everything from elections to celebrity events, prompting newsrooms to cite betting odds for predictions. Funt discusses financial ties between media and betting platforms, raising concerns about integrity and addiction. He cautions that while betting can engage audiences, most bettors ultimately lose, urging listeners to approach market odds with skepticism and call for stronger consumer protections.
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Markets As Aggregators Of Information
- Prediction markets aim to let people bet on nearly any disagreement, from wars to weather.
- Their odds can be predictive because many bettors aggregate diverse information into prices.
Scrutinize Market Odds On News Reports
- Be skeptical when news outlets present exclusive prediction-market odds as definitive evidence.
- Check which market and whether outlets are contractually tied to a single platform before trusting the number.
Insider Information Skews Market Integrity
- Insider trading and influence are persistent risks because bettors with nonpublic knowledge can move odds and profit.
- Regulators and platforms struggle to detect and police such activity effectively.
