Prediction market Kalshi's cofounders are former Wall Street traders

Kalshi is the first regulated prediction market in the US

Two migrant MIT students, Luana Lara Lopes and Tarek Mansour, shared an interest in hedging against uncertainty—from election outcomes to the Oscar awards. They fought hard for regulatory approval and their company now has a valuation in the billions. The platform has brought prediction markets into the mainstream.

Kalshi announced a partnership with CNN in 2025

The partnership included an integration of Kalshi's prediction markets data across CNN's network programming. For instance, certain TV segments on CNN could show a scrolling banner detailing the odds of event contracts on the exchange.

The CEOs of the two top prediction markets have a fierce rivalry

Kalshi CEO Tarek Mansour and Polymarket CEO Shayne Coplan are both billionaire CEOs of the top two prediction markets—but they don't exactly get along. For instance, Mansour reportedly does not say the word "Polymarket" out loud, referring to it as the "non-American, unregulated platform."

Prediction markets convinced regulators they're not gambling, but exchanging commodity futures contracts

Kalshi built a legal case that argues its yes/no bets on real-world events are futures contracts, and the relevant regulator—the Commodity Futures Trading Commission—agreed in 2020. Many states are now suing major prediction markets, arguing this legal case is faulty and obscures the true substance of the business: gambling.

Prediction markets have faced questions about insider trading

While prediction markets encourage bettors to use their knowledge of a situation to inform their trades, these platforms have faced questions about when this borders on insider trading. For instance, traders on Kalshi can bet on who Taylor Swift's bridesmaids will be—but some worry that it would be unfair for Taylor Swift herself to earn money on that specific bet.

The 2024 US presidential election was a breakthrough moment for prediction markets

Founded in 2018 by MIT graduates, Kalshi won a federal appeals court ruling in October 2024 that allowed it to offer election contracts in the US. When prediction markets predicted President Donald Trump's win (more accurately than most polls), prediction markets were thrust into the public eye.

Use a prediction market profit or loss calculator

In order to calculate how much someone would make from a specific trade on a prediction market, this calculator asks for the purchase price of a given "yes" or "no" prediction, the number of contracts the trader plans to purchase, and more.

How prediction markets differ from sportsbooks matters for regulation

There are a number of differences and similarities between sportsbooks and prediction markets, despite both allowing people to bet on outcomes for sports-related events. For instance, prediction markets typically earn revenue through transaction fees rather than taking directional exposure to outcomes.

Donald Trump's Truth Social social media platform is launching a prediction market

Named "Truth Predict," the cryptocurrency-based prediction market will allow users of the Truth Social social media platform to place crypto bets on the outcome of certain events (think: sports games, the economy, and political races). Truth Social is primarily owned by President Donald Trump and his family.

Play a game that reveals if investors with a crystal ball make better trades

The "crystal ball" game reveals how well you would do trading stocks and bonds if you could see the front page of the Wall Street Journal one day in advance.

Prediction markets have their own lingo that's an amalgamation of Gen Z and Gen Alpha slang

For instance, if you've been out-maneuvered by another trader, you've been "mogged." A "rulescuck" is someone who is a stickler for betting market rules and may try to win on a technicality.

Listen to Palantir CEO Alex Karp's outlook for how AI will change the economy

Palantir was an early leader in developing and implementing AI into its technology. When asked about the potential risks of AI (like the threat many say it poses to so-called "knowledge workers"), Karp has said that specialized knowledge or skills will inevitably become more valuable.

Dissecting the legend of Sam Bankman-Fried

Sam Bankman-Fried, the founder and former CEO of FTX, a cryptocurrency exchange, rose to fame as a crypto visionary and was hailed as a genius. But he had a quick downfall in late 2022 when reports surfaced, implicating him in massive fraud.

Bluesky is gaining momentum by offering users full control over their experience

Controversial changes made by Elon Musk to X have inspired an exodus from that platform and growth in Bluesky. The latter's open-source model gives users customizable feeds, portability between services, and a "billionaire-proof" design that prevents corporate takeover.

How one man placed the first short against the Dutch East India Company

Isaac Le Maire, a Dutch businessman and cofounder of the Dutch East India Company, is said to be history's first short seller, betting against the Dutch East India Company's stock price. Le Maire, who had been fired from the spice trading company over an unclear financial dispute, began spreading false rumours about the company to encourage people to sell their stock in order to tank its value.

Vitalik Buterin’s current thoughts on Ethereum

Vitalik Buterin isn’t just the founder of Ethereum—he’s also a blogger. In this blog post from late last year, Buterin discusses some of his favorite applications built on Ethereum: prediction markets like Polymarket, where users can bet crypto on the outcome of events like elections. Buterin argues that prediction markets also act as news sites for non-bettors, opening the floodgates for many different kinds of info-based apps on Ethereum. Read the post here.

What’s up with the new Texas Stock Exchange?

The two biggest stock exchanges in the U.S. are both based in New York—the New York Stock Exchange and the Nasdaq. But a potential new “Texas Stock Exchange”—which would be based in, you guessed it, Texas—could change that. To find out more about the project, backed by enormous companies such as BlackRock and Citadel, watch this video.

Many hedge funds use short selling as an alternative investment strategy to offset risk

Hedge funds typically use a "long-short" investment strategy—where funds diversify by investing in a mix of long positions and short positions—to balance risk and maximize profits. Including short positions gives hedge funds some protection against downturns in the market, although the strategy can have uncapped losses for investors.

The lifecycle of a financial bubble often follows a predictable pattern

Economist Hyman Minsky originated what became a five-stage model of an economic bubble: a new “displacement,” a rapid boom, euphoric speculation, early profit-taking by insiders, and finally panic selling. From Japan’s 1980s real-estate surge to the 2008 crash, the pattern repeats across eras and assets.

Sahin Boydas was 2024’s most active angel investor

Others who were among 2024’s top angel investors in terms of their number of angel investments in unique companies included Google’s Jeff Dean, Solana’s Anatoly Yakovenko, and more.

Peloton's founder once said the company 'sells happiness' before a disappointing initial public offering

Ahead of the company's IPO, Peloton founder John Foley told investors that "on the most basic level, Peloton sells happiness." However, the inspirational sentiment didn't stick with investors—the company closed the day of its IPO with stocks trading down 11% from the IPO price. (Some users may experience a paywall.)

In high school, Mark Zuckerberg rejected Microsoft's proposal to buy his music suggestion software for $950K

Mark Zuckerberg and Adam D'Angleo built a website called "Synapse," which created playlists for users based on their listening preferences and an algorithm to suggest new songs, in September 2002.

Meme stocks often have little underlying value but are fueled by crowd funding

"Meme stocks" is a phrase originating in the early 2020s, referring to companies with little underlying value who gain recognition through social media and whose stock price experiences rapid gains.

In 2025, four executives from large tech companies were given positions in the US Army Reserves—including Palantir Chief Technology Officer Shyam Sankar, which reinforced Palantir's ties with the US military and its role as a leading defense partner.

A startup is trying to create the diamond equivalent of the gold standard

It's called the Diamond Standard Co, and it uses an algorithm to assign standard values to a variety off small diamonds, grouping them together into individual coins. Historically, diamonds haven't been able to be classified as commodities or standardized like gold because they aren't uniform—factors such as clarity, cut, color, and carat size significantly influence the value of a diamond.

How the people behind spam text messages make money

If you've ever gotten a text message from a scammer—sometimes even just someone from an unknown number saying hello and calling you by the wrong name—you've probably wondered what they're trying to get out of you. This podcast answers that question. Hint: The answer has to do with cryptocurrency.

SpaceX's S-1 or 'prospectus' revealed many previously unknown details about the company, including its unprofitability despite doing $18.7B in revenue in 2025, exactly how many voting shares Elon Musk will have in the company (roughly 85%), and more.

Hedge funds, the private investment firms that trade a wide swath of financial assets, make money by imposing steep fees on investors and from the fund's investment performance.

This site reaches millions of visitors who are tired of AI chatbots and seeking human connection. Pretend to be an AI chatbot and ask questions, provide answers, and draw for people in real time.

Chaos theory—informally known as the butterfly effect—is the reason why weather forecasts are presented with probabilities rather than certainties.

Warren Buffett's former professor Benjamin Graham is known as the 'father of value investing,' a strategy in which investors seek to buy stocks trading below their intrinsic worth.

How Amazon operates a 'flywheel' business model, a self-reinforcing cycle that drives continuous growth

Memecoins are a type of cryptocurrency—a form of digital currency with a wide variety of uses—created around popular 'memes,' or viral internet jokes.

The Nasdaq's 'Magnificent 7' companies are responsible for roughly 40% of the Nasdaq 100 index's gains, while the remaining 93 companies account for the other 60%.

Fast-casual restaurant Chili's is experiencing a resurgence, with its parent company recently reporting a nearly 32% increase in sales, thanks to passionate Gen Z fans on TikTok.

Clever Hans was a 1900s horse that was believed to be able to solve math equations, tell time, and read and comprehend German, until a psychology student discovered how he got his answers.

A Yale student wrote a profound essay about the consulting industry's influence on elite college students that was published in a book of her writing after she died in a post-graduation car accident.

Salvador Dalí believed he was his own dead brother, who had died nine months before he was born

Telehealth demand for GLP-1s for weight loss is booming as consumers seek easier access.

In 2018, 26-year-old missionary John Allen Chau was killed by tribesmen after attempting to reach and evangelize on India's isolated North Sentinel Island

Art theft is the third-largest source of criminal revenues worldwide, thanks in part to the subjective nature of valuing a work of art.

In recent years a child anxiety expert has created and tested a novel phobia and anxiety treatment approach for children, focused on changing how parents respond to the fears.

The term 'algorithm' originated from the Latinized name of al-Khwārizmī, a 9th-century mathematician whose works introduced Arabic numerals and the decimal-based numeral system to Europe and whose treatise 'Al-Jabr' gave algebra its name.

'Silent' fireworks have gained more interest in recent years as a quieter celebratory option.

When caught in the mouths of cardinal fish, seed shrimp release glowing, bioluminescent chemicals, which alert predators of the cardinal fish, prompting the shrimp's ejection.

In 2026, Finland was named the world's happiest country for the ninth consecutive year based on its wealth, social safety network, and high life expectancy, among other factors.

When a Paris department store hesitated to sell Estée Lauder's perfume, she 'accidentally' broke a bottle, causing the smell to spread throughout the store and shoppers to start asking to buy the scent.

Exploring the Larry Bird punch that almost changed March Madness

Poison ivy is in the same family as mangoes, cashews, and pistachios—and they all produce oily urushiol in their raw, unprocessed state—but they are typically prepared in ways to avoid causing human discomfort.

Explore a list of the 100 best novels of all time, compiled by some of the world's best living writers, including Salman Rushdie, Stephen King, and Jennifer Egan.