We Need to Kick Prediction Market Betting Out of Journalism While We Still Can
The article warns against the growing influence of prediction markets in journalism, arguing that treating news like a betting game undermines reporting integrity and democratic discourse. It criticizes major news outlets for partnering with prediction platforms like Polymarket and Kalshi, often publishing raw betting odds without substantive analysis. The author calls for news organizations to reject financial ties to prediction markets and prioritize issue-based reporting over speculative odds.
- ▪A U.S. Army Special Forces soldier was arrested for allegedly using classified information to profit from bets on a Venezuela raid.
- ▪News outlets including the Wall Street Journal, CNN, and the Associated Press have partnered with prediction market platforms, though terms are undisclosed.
- ▪The Media and Democracy Project labels the use of prediction markets in news reporting as 'casino journalism' and warns it erodes journalistic substance.
- ▪An April 2026 Wall Street Journal article reported Polymarket odds on a potential U.S. military strike on Iran without providing additional journalistic analysis.
- ▪The article argues that even accurate predictions from markets can harm democracy by displacing coverage of important issues with horse-race speculation.
Opening excerpt (first ~120 words) tap to expand
_Voices _Voices Support Us _Voices We Need to Kick Prediction Market Betting Out of Journalism While We Still Can Treating journalism like a casino will harm reporting — and erode democracy. Share Copy link Share on Facebook Share on Bluesky Share on X Share on LinkedIn Share on WhatsApp Jonathan Reiss April 28 2026, 5:52 a.m. Share Copy link Share on Facebook Share on Bluesky Share on X Share on LinkedIn Share on WhatsApp A Polymarket pop-up media exhibit shows data relating to potential political candidates popularity on March 20, 2026, in Washington, D.C. Photo: Alex Kent/The Washington Post via Getty Images Jonathan Reiss is a co-founder of the Media and Democracy Project.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Intercept.
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