From Futurism · Victor Tangermann · · 1m
CBS News Uses Prediction Markets for Elections
CBS News partners with Kalshi to bet on US elections, risking journalistic integrity.
In brief
CBS News partners with Kalshi to bet on US elections, risking journalistic integrity. CBS News partners with Kalshi to cover US elections through prediction markets, undermining trust in journalism. Originally reported by Futurism.
Prediction markets
Prediction markets like Polymarket and Kalshi operate in a regulatory vacuum that’s long garnered a reputation for allowing insider trading to run rampant.
CBS News partnership
CBS News, under editor-in-chief Bari Weiss, signed a partnership with Kalshi to cover the upcoming elections.
Ethical concerns
Bets on prediction markets aren’t indicative of event probability but rather which side is financially invested in outcomes.
Public trust crisis
The US media landscape is compromised during Donald Trump’s second term, risking further public distrust in journalism.
Newsroom bans
ProPublica, NPR, Time magazine, and the New York Times have banned employees from betting on news events.
Election risks
CBS’s Kalshi partnership threatens November’s high-stakes US midterm elections by legitimizing gambling as news.
The short version
CBS News partners with Kalshi to cover US elections through prediction markets, undermining trust in journalism.
