What happens when you can bet on anything?

Robin Hanson, an economics professor at George Mason University and a leading advocate of prediction markets, dives into the rising popularity of betting platforms like Kalshi and Polymarket. He discusses how prediction markets operate and their potential to outperform traditional forecasting methods. The conversation touches on the implications of betting on elections, the regulatory landscape, and the ethical dilemmas of wagering on sensitive topics. With an engaging debate on market influences and consumer protections, this discussion unpacks a provocative frontier in economics.