The Current When betting odds enter the news
Jan 7, 2026
Danny Funt, a sports betting reporter and author, discusses the unsettling rise of prediction markets in mainstream news. He reveals how CNN and CNBC's partnership with Kalshi introduces betting odds into their coverage of critical events, raising ethical concerns. Funt warns of conflicts of interest and the erosion of public trust when news becomes a gamble. He captures the shift in media dynamics, highlighting alarming incentives driving newsrooms to embrace gambling, and questions if such markets truly aid fact-checking.
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Prediction Markets Are Big And Expansive
- Prediction markets let people wager real money on real-world events, ranging from elections to wars.
- They traded about $28 billion last year and can move public attention and capital quickly.
Financial Language Masks Gambling Reality
- Kalshi talks about "financializing everything" and turning disagreements into tradable assets.
- Framing markets as financial products masks the reality that they function much like gambling.
Exclusive Media Partnerships Create Revenue Ties
- CNN and CNBC agreed to exclusively reference Kalshi odds in their coverage and display a ticker of markets.
- CNBC will also earn referral fees when viewers sign up through links on its site, creating revenue incentives.
