"It's a grim economic outlook for those who are already struggling to make ends meet. At the same time, sports betting is taking off, with experts warning of a surge in gambling addiction. And online "prediction market" platforms like Polymarket and Kalshi are taking things even further, allowing practically anybody to bet their hard-earned cash on dubious predictions, like whether the US will invade Venezuela - without any meaningful regulatory oversight to protect them from scams, insider trading, and financial ruin."
"Even cable television is embracing the worrying trend. Case in point, CBS' 83rd Golden Globes award show showed a live ticker of Polymarket predictions for various awards during its Sunday evening broadcast of the event - actively encouraging viewers to gamble on the platform. Some predictions turned out totally wrong, with "Sinners" taking a clear front lead on Polymarket for Best Drama, only for "Hamnet" to take the prize. Others triumphed, with the majority of users correctly betting on Paul Thomas Anderson winning Best Director for "One Battle After Another.""
Economic growth on paper masks a shrinking middle class as job creation fails to replace losses, squeezing those already struggling financially. Sports betting is expanding, and experts warn of rising gambling addiction. Online prediction markets like Polymarket and Kalshi enable widespread betting on speculative geopolitical and cultural outcomes without meaningful regulatory oversight, exposing participants to scams, insider trading, and potential financial ruin. CBS aired a live Polymarket ticker during the 83rd Golden Globes, effectively promoting gambling to viewers. Observers reacted with dismay as some popular bets proved incorrect while others correctly predicted winners.
Read at Futurism
Unable to calculate read time
Collection
[
|
...
]