It’s the Wild West of online betting. Prediction markets have been plagued by insider trading allegations, ethical questions and even national security concerns. Today on the show, what are sites like Polymarket doing to self-police, and what other regulations might be necessary? We talk to one U.S. senator with some ideas. The Indicator has a weekly newsletter! Sign up now: <a href="http://npr.org/newsletter/indicator"target="_blank" >npr.org/indicatornewsletter</a> Related:  <a href="https://www.npr.org/2026/04/20/nx-s1-5789071/is-anyone-gonna-do-anything-about-these-iran-war-trades"target="_blank" >Is anyone gonna do anything about these Iran War trades?</a>  <a href="https://www.npr.org/2026/04/17/nx-s1-5789382/kalshi-polymarket-prediction-market-ceo-tarek-mansour"target="_blank" >Do prediction market bettors make anything better?</a>  <a href="https://www.npr.org/2026/05/01/nx-s1-5806337/polymarket-bots-lithium-found-lots-marathon-shoe-thoughts"target="_blank" >Polymarket bots, lithium found: lots!, marathon shoe thoughts</a>   For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at <a href="http://plus.npr.org/"target="_blank" >plus.npr.org</a>. Fact-checking by <a href="https://www.npr.org/people/1268825622/sierra-juarez"target="_blank" >Sierra Juarez</a>. Music by <a href="https://dropelectric.bandcamp.com/"target="_blank" >Drop Electric</a>. Find us: <a href="https://www.tiktok.com/@planetmoney"target="_blank" >TikTok</a>, <a href="https://www.instagram.com/planetmoney/"target="_blank" >Instagram</a>, <a href="https://www.facebook.com/planetmoney"target="_blank" >Facebook</a>, <a href="http://npr.org/indicatornewsletter"target="_blank" >Newsletter</a>.   See <a href="https://pcm.adswizz.com">pcm.adswizz.com</a> for information about our collection and use of personal data for sponsorship and to manage your podcast sponsorship preferences. <a href="https://www.npr.org/about-npr/179878450/privacy-policy">NPR Privacy Policy</a>

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Prediction markets are threatening national security. Who's gonna fix it?

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