The ArenaSports Betting Everywhere: Prediction Markets Explode
Prediction markets like Kalshi and Polymarket have gained popularity in the U.S. by letting people bet on everything from elections to Oscar winners to weather trends. But over the past year, a substantial portion of their wagers—and in Kalshi’s case the vast majority—have come from sports betting. And now traditional sportsbooks and crypto exchanges are crashing the prediction market party. DraftKings, one of the two largest online sportsbooks in the U.S., launched its own...