The Prop-Betification of Everything, with the Forefather of Prediction Markets
Pablo Torre Finds Out
Pablo Torre
4.7 • 2.6K Ratings
🗓️ 3 February 2026
⏱️ 48 minutes
🧾️ Download transcript
Summary
He is the accidental creator of a phenomenon eating our world and wallets alive. So how does James Surowiecki feel about Kalshi, Polymarket and the wisdom of the crowd, now that even the market for a missile launch can be manipulated? On the eve of the Super Bowl, he re-traces the rise of the casino in your pocket, debunks the cult of the CEO... and forecasts the disturbing possibilities when insider trading maneuvers all the way to the White House (or at least The Dark Lord of the Pentagon).
• Read "The Wisdom of Crowds"
• Previously on PTFO: "The Best Bettor in NBA History on How to Solve a Gambling Crisis
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Transcript
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| 0:00.0 | Welcome to Pablo Torre finds out. I am Pablo Torre, and today we're going to find out what this sound is. |
| 0:06.7 | The long-term vision is to financialize everything and create a tradable asset out of any difference in opinion. |
| 0:12.6 | Right after this ad. |
| 0:18.2 | By the way, are you, what is your NHL 26? |
| 0:22.3 | I don't play anymore because... |
| 0:23.2 | You don't play anymore? |
| 0:24.0 | I don't. |
| 0:24.3 | I don't because when the next generation consoles came out, |
| 0:29.0 | EA for some reason, decided to only make the NHL game for the new consoles. |
| 0:34.1 | And I just never, I haven't bought a new console just because I don't play enough. |
| 0:36.7 | What was the last console you owned? The Xbox One was the last one. They left you behind in an outmoded technology. Yes. And so I have not played the game in two years basically. Wait a minute, but the legend of you, the reason I wanted to start with this is because the legend of Jim Zerowicki is not that he used to write the financial page for the New Yorker. Worked. Is that Yale lecturing and all this shit? Yeah. It's that you were at your peak. What rank in the world when it comes to the NHL video game? I can't remember exactly, but I think my highest was like 92, something like that. That's ridiculous. Top 100. That's ridiculous. |
| 1:12.6 | I don't think Megan knows that. |
| 1:17.7 | I'm going to say, God bless your partner, Megan, who is learning the depths. |
| 1:19.6 | That's not going to be a good thing. |
| 1:20.7 | That's not good for anyone. |
| 1:22.0 | That's not good for anyone. But there is a bit of a metaphor here already insofar as you're a person who is steeped, it seems, |
| 1:29.7 | in what was a version of a technology of a concept and you're sort of like watching this |
| 1:38.0 | thing that you're as intimately familiar with as anybody. Now zoom into a future that I'm |
| 1:43.0 | trying to also understand. Yeah. And look, the zoom into a future that I'm trying to also understand. |
| 1:44.5 | Yeah. |
| 1:45.0 | And look, the prediction market's dynamic that I need our audience to understand |
| 1:49.9 | and that I personally, frankly, need to understand better. |
... |
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