Source: Liberal Currents
by Alan Elrod
“Prediction markets are one key component of America’s flourishing online gambling ecosystem. And they rely on the type of wager that many experts see as being at the heart of modern problem gambling: the prop bet. Prop bets (more formally, proposition bets) are bets that can be placed on specific eventuality, from how many touchdowns a quarterback will throw in a game to, yes, whether Jesus Christ will return in this calendar year. This gamblification of the world is the business model. Prediction markets like Kalshi and Polymarket proudly boast that users can bet on just about any proposition imaginable.” (02/12/26)