These Are the Sharps Actually Making Money on Prediction Markets

Here's a couple things about prediction markets. A lot of it is pure gambling and speculation, much of it on things with very little economic relevance. Another fact is that in all likelihood, if you yourself started trading right now, you'd probably lose your shirt. But there is money being made by some dedicated traders, really focused on areas like politics and economics. On this episode, we speak with Brian Golden and Daniel Reichman, who are part of a private Discord called Maga Kiwi Club, where serious prediction markets traders swap ideas and make real money. We discuss the remarkable efforts they go to in order to spot opportunities, the systematic biases among traders, how they feel about insider trading, and other major issues that surround the space. Alongside Brian and Daniel, we also speak with NYC-based journalist and producer Adam Iscoe, who recently profiled these traders for The New York Times Magazine. Only Bloomberg.com subscribers can get the Odd Lots newsletter in their inbox, plus unlimited access to the site and app. Sign up at bloomberg.com/subscriptions/oddlotsSee omnystudio.com/listener for privacy information.