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Prediction markets—platforms where users can place wagers on the outcomes of future events —are suddenly all over the news. Every day we’re seeing headlines— allegations of insider trading, states accusing prediction markets of violating gambling laws, warnings about the “depravity economy.” We’re also seeing prediction markets’ efforts at becoming part of the news ecosystem. Since November of 2025, companies such as Polymarket and Kalshi have instigated a wave of partnership deals with publishers including CNN , CNBC , Dow Jones , and Yahoo Finance —as well as Substack —enabling publishers to integrate real-time betting data into their TV and digital coverage. (Kalshi is also reportedly in advanced talks with Fox Corp.) The markets are even courting independent journalists.…