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From the Vox Media Podcast Network, this is channels of Peter Kafka.

That is me.

I'm also chief correspondent at Business Insider. And today we are talking about the gambling industry, except it's not called the gambling industry.

Instead, it's called the boom business for prediction markets, which have gone from super niche to super mainstream in the last couple years.

There are many signs that prediction markets are a big deal or potentially a big deal,

including inescapable marketing campaigns and sky-high valuations for companies like Calci and Polymarket.

Another indicator, Kate Nibs, the excellent reporter at Wired,

has started covering prediction markets full time after proposing the idea to her editors.

So this is one of those, Peter has a lot of questions for an expert episodes.

And I do have a lot of questions about prediction markets starting with, why now?

...