It's the Brian Lairn Show on WNYC.

I'm producer Amina Serna, filling in for Brian today.

Good morning again, everyone.

Now we'll get an inside look into the world of legalized gambling.

Sports betting is legal in 40 states, and of course, now it's on your phone.

Even if you're not participating, you've likely seen an ad like this.

We're in Florida asking people what they put their money on.

I'm all in on OKC.

Indiana got that dog in them.

Will egg prices go up this month?

I think we'll hit $20.

How many hurricanes do you think we'll have this year?

Since 2018, Americans have wagered more than half a trillion dollars legally on sports,

and it's not just sports anymore.

Platforms like Polymarket and Kalshi let you bet on elections, the weather, and geopolitical events.

When the U.S. and Israel struck Iran in late February,

an anonymous trader made more than $553,000

on a prediction market bet about Iran's supreme leader,

placed just before the strike that killed him.

By the end of that first day alone,

over a billion dollars had been wagered on the conflict.

For those of us who haven't dipped into any of this yet,

...