Today is Saturday, April 25th. You've probably heard about it more and more, people betting on

everything from elections and major global events to the weather and entertainment. They're doing it all

on prediction markets, which some say could be a powerful new way to understand what's coming next.

Others say this looks a lot more like gambling and could come with some serious risks. Today,

I'm joined by Jeff John Roberts, Finance and

Crypto Editor at Fortune. He's been reporting on how technology is changing finance and what

these prediction markets could mean for the future. He breaks down how they work, why some news

organizations are partnering with them, and what makes them different from traditional betting.

We also talk about the potential upsides and the possible

downsides, plus how lawmakers and the courts are starting to take notice and what could come next.

Welcome to the Newsworthy special edition Saturday, when we sit down with a different expert

or celebrity every Saturday to talk about something in the news. Don't forget to tune in

every Monday through Friday for our regular episodes where we provide all the day's news in less than 15 minutes.

I'm Erica Mandy. It's now time for today's special edition Saturday.

Jeff John Roberts, thanks so much for joining us here on The Newsworthy. Thanks for having me, Erica.

So first, for people who just aren't that familiar with prediction markets, can you explain

the basics of what they are and why they seemingly are everywhere these days?

I understand the confusion because they're basically gambling, and that's not a new thing.

Prediction markets, however, is much broader than just sports. It can be elections. It can be

the weather. It can be the weather.

It can be foreign politics. Will the U.S. invade Iran? Stuff like that. And the key distinction to understand, though, is traditional betting, you're betting against the house, like a casino. With prediction markets, you're betting against other people. Do I think it's going to be sunny tomorrow? I'm going to wager 70%. yeah, so by that contract, you have the other side.

And then we check the weather tomorrow and whoever is right, get it's going to be sunny tomorrow. I'm going to wager 70%. Yes, I'll buy that contract. You have the other side.

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