What betting markets can and can’t tell us about the election
Make Me Smart
Marketplace
4.6 • 5.5K Ratings
🗓️ 8 August 2024
⏱️ 18 minutes
🧾️ Download transcript
Summary
Former {resident Trump and Vice President Harris are apparently neck and neck in the presidential race. That’s according to the … betting markets? Yes! We’ll get into the ways prediction markets are being used like polls in the 2024 race. Then, why lobbying dollars may pour in at state houses following the end of the Chevron doctrine. Plus, guest host Meghan McCarty Carino joins us to discuss the steady drip, drip, drip of layoffs in the tech industry. And, U.S. sprinter Noah Lyles wants his Air Jordan moment.
Here’s everything we talked about today:
- “Yes, you can place bets on the election (for now)” from Marketplace
- “Trump and Harris in Dead Heat for Presidency, Polymarket Betting Shows” from The Wall Street Journal
- “When the feds don’t regulate … will the states?” from Marketplace
- “Dell Layoffs Hit Sales Team With New Unit Focused on AI” from Bloomberg
- “Intel is laying off over 15,000 employees and will stop ‘non-essential work’” from The Verge
- “The World’s Fastest Man Wants His Own Signature Adidas Shoe” from Bloomberg
Join us tomorrow for a Make Me Smart guest host take over edition of Economics on Tap. The YouTube livestream starts at 3:30 p.m. Pacific time, 6:30 p.m. Eastern.
Transcript
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| 0:00.0 | Hey everyone. I'm Kimberly Adams. Welcome back to Make Me Smart, where we make today make sense. |
| 0:12.0 | And I am Megan McCarty Karino. |
| 0:14.3 | I'm in for Ky Rizdahl. |
| 0:15.8 | Thanks everyone for joining us today on this Thursday, August 8th. |
| 0:21.1 | Today we're going to listen back to some of the big stories of the week audio |
| 0:24.5 | edition. We've got some clips lined up. Let's get to it. All righty so our first |
| 0:29.8 | clip for today it's from an interview that I did that aired on Marketplace Tech today. |
| 0:36.2 | I talked with Chris Cohen, who's the deputy site editor for GQ, and he got in on the action on something that has kind of been making a lot of |
| 0:45.9 | headlines lately which is prediction markets. |
| 0:50.2 | I placed a bet on Kamla Harris to win the presidency. I thought she was way undervalued right after |
| 0:58.1 | Joe Biden dropped out. You can also place bets on things you don't think are going to happen. |
| 1:04.3 | I thought Michelle Obama becoming the Democratic nominee was way overvalued. |
| 1:11.2 | So prediction markets, these are online. way overvalued. |
| 1:12.8 | So prediction markets, these are online marketplaces |
| 1:15.9 | that operate kind of like the stock market. |
| 1:19.4 | Companies like predict it is actually, |
| 1:22.1 | that's the only one that is available operating in the US and |
| 1:26.7 | it's currently involved in some legal battles so not |
| 1:35.0 | operating in the US. |
| 1:38.0 | there are some restrictions on betting on election stuff in the US. There are some restrictions on betting on election stuff in the US for reasons you know we might |
| 1:47.4 | understand you know concerns about protecting the you, integrity of the elections and democracy and that kind of stuff. |
| 1:58.0 | But these prediction markets have been getting a lot of attention, particularly in the wake of the debate, you know, because |
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