From WIRED · Kate Knibbs · · 2m
Polymarket wants to be your next news source
Prediction markets like Polymarket and Kalshi are positioning themselves as media companies, not just places to bet on future events.
In brief
Prediction markets like Polymarket and Kalshi are positioning themselves as media companies, not just places to bet on future events. Prediction markets are aggressively integrating into mainstream media through partnerships, editorial content, and social media to boost credibility and shape their own narratives…
Polymarket sends daily news roundups
The prediction market emails subscribers with headlines like any politics-focused publication, linking stories to betting markets on whether events will happen.
Legal battle over what they are
Prediction markets face fights over whether they're financial services or gambling platforms. The dispute could reach the Supreme Court.
Media partnerships with major outlets
Polymarket has deals with Dow Jones and Substack. Kalshi partners with CNN, CNBC, and Fox Corp. They're integrated into a quarter of top S&P 500 communications companies.
Data sharing, not trading
The partnerships let news outlets report on what people are betting on. This positions prediction markets as information channels and boosts their credibility.
“Given the forecasting success of the markets, it's clear there is informational value.”
Social media accounts act like news
Official accounts post like media outlets, mixing PopCrave's energy with Bloomberg's topics. A Times analysis found Polymarket published false and misleading information.
Polymarket wanted an editor in chief
The company recruited for a journalism role in 2024 and later brought on Nate Silver as an adviser. Its careers page promises to become the new front page of the internet.
Financial firms have done this before
Bloomberg started with market data before expanding to journalism. Robinhood ran a media subsidiary called Sherwood. Hunterbook operates both a news outlet and hedge fund.
Polymarket launched a podcast
What Are the Odds? partners with Dear Media and features hosts known for celebrity content, including the daughters of a prominent anti-Muslim activist.
Rage-baiting drives engagement
Podcast host Amanda Hirsch got destroyed on TikTok for promoting bets on the Lindsay Clancy trial outcome. She apologized after severe backlash.
Media strategy has clear advantages
It turbocharges brand awareness, creates revenue separate from trading fees, and lets the markets shape their own narratives about being banned in the US.
Meta considered buying Kalshi
The social media giant also discussed launching its own prediction market. It's evidence these markets are part of how people use the internet, not just trading platforms.
The short version
Prediction markets are aggressively integrating into mainstream media through partnerships, editorial content, and social media to boost credibility and shape their own narratives.
