688. When Is a Bet Not a Bet?

25 September - 50 mins
Podcast Series Freakonomics Radio

That’s the question at the heart of a battle between Kalshi and state gambling regulators. As prediction markets boom, there are other questions, too — about insider trading, market manipulation, and whether the public has turned against them. (Part two of a two-part series.) 

 

SOURCES:Gary Gensler, former chair of the S.E.C. and the C.F.T.C.Robin Hanson, professor of economics at George Mason University.Nicole Kagan, head of research at Kalshi.Tarek Mansour, co-founder and C.E.O. of Kalshi. 

RESOURCES:"Shall We Vote on Values, But Bet on Beliefs?" by Robin Hanson (Journal of Political Philosophy, 2013). 

EXTRAS:"Are Prediction Markets the Best Forecasting Tool Ever — or Just Another Ca...

50 mins

Series Episodes

687. Are Prediction Markets the Best Forecasting Tool Ever — or Just Another Casino? Playing

687. Are Prediction Markets the Best Forecasting Tool Ever — or Just Another Casino?

The promise is that they can beat the experts at predicting inflation, elections, and FDA approvals. But right now, roughly 90 percent of the action is sports. Is this a future we want to bet on? Stephen Dubner speaks with, among others, the C.E.O. of Kalshi. (Part one of a two-part series.)

48 mins

18 September Finished

How to Be a Double Unicorn, with John Urschel | Better in Person Playing

How to Be a Double Unicorn, with John Urschel | Better in Person

He was thriving in the N.F.L., but then he decided to focus on mathematics — a subject he now teaches at M.I.T. John walks Stephen Dubner through the whole story, teaches him some blocking techniques, and explains why some infinities are bigger than others. If you'd like to see the video version of Better in Person, you can watch it on YouTube or Apple Podcasts.

32 mins

15 September Finished

686. Why Is It So Hard to Find an NFL Quarterback? Playing

686. Why Is It So Hard to Find an NFL Quarterback?

For decades, teams have tried (and mostly failed) to predict which college quarterbacks will thrive in the pros. Is the science finally catching up? Stephen Dubner speaks with a scout, a psychologist, a data warrior, and a Hall of Fame quarterback who nobody wanted.

58 mins

11 September Finished

Amazon Was Supposed to Kill the Bookstore. James Daunt Had Other Plans | Better in Person Playing

Amazon Was Supposed to Kill the Bookstore. James Daunt Had Other Plans | Better in Person

He started with one small shop in London. He has since resuscitated both Barnes & Noble and Waterstones. He tells Stephen Dubner exactly how he does it. If you'd like to see the video version of Better in Person, you can watch it on YouTube or Apple Podcasts.

32 mins

8 September Finished

685. How to Survive the A.I. Shock Playing

685. How to Survive the A.I. Shock

Gina Raimondo, a former commerce secretary and governor, thinks A.I. will create plenty of jobs in the long run. She also thinks a poorly managed transition could tear the country apart. So she came up with a plan.

57 mins

4 September Finished

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