Prediction markets like Polymarket and Kalshi have had a big year in 2025, but what are they really? Securities? Derivatives? Sportsbooks? They may be all of the above.
Listen to my breakdown on how these markets have evolved over time, and what led to their current rise today. We then dive into the opportunities, risks, and the regulatory challenges that may shape their future.


CHAPTERS
02:54 The Origin of Prediction Markets
06:43 Polymarket, Kalshi, and Modern Prediction Markets
09:16 Regulation and What’s Next
09:31 Bucket A: Policy, Finance, and Economics
13:36 Bucket B: Sports, Entertainment, and Pop Culture


SPONSORS
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<a href="https://toolost.com/">Too Lost</a>: empowering artists with tools to manage, distribute, and grow their music independently.


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Polymarket and Kalshi: Financial Tools or Casinos?

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