How Prediction Markets are Colliding With California and National Politics

Prediction markets have exploded in recent years, with platforms like Polymarket and Kalshi allowing people to put real money on everything from sports outcomes to election results to armed conflicts overseas. Marisa, Scott and Guy discuss how these markets are influencing state and national politics. Then, they’re joined by Kate Knibbs, senior writer at WIRED, to understand who’s governing these platforms and how they’ve managed to flourish even in states where gambling is illegal. Check out ⁠⁠⁠Political Breakdown’s weekly newsletter⁠⁠⁠, delivered straight to your inbox. Learn more about your ad choices. Visit megaphone.fm/adchoices

Episode metadata supplied by the publisher feed · Published Apr 30, 2026

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How Prediction Markets are Colliding With California and National Politics

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