John Oliver takes an eye-opening deep dive into predictions markets

John Oliver takes an eye-opening deep dive into predictions markets

Prediction markets, which essentially allow users to gamble on almost anything, are on the rise. But what are the ethics of companies that allow people to bet on the possibility of nuclear war?In the latest episode of Last Week Tonight John Oliver unpacks that exact question, while also digging into other issues — like the possibility of insider trading — faced by leading platforms Kalshi and Polymarket."It sure seems like right now we've effect…

Finally, John Oliver pours Last Week Tonight's resources into prediction markets segment

Over the past few months and years, prediction markets like Polymarket and Kalshi have begun spawning practically everywhere: Award shows, sporting events, news channels. These companies have touted themselves as resources but, as John Oliver discusses in last night’s Last Week Tonight, they are dubiously legal and full of people trying to profit from instability. “These companies’ insistence that they are not gambling platforms is actually one …

Last Week Tonight‘s John Oliver Says he Won‘t Placate Prediction Markets

John Oliver, host of HBO’s Last Week Tonight, targeted prediction market platforms on his show’s latest weekly deep dive. In Sunday’s airing of the HBO show, Oliver discussed some of the trivial event contracts on platforms such as Kalshi and Polymarket, including betting whether members of the Trump administration would use certain words in public addresses, to the companies’ controversial partnering with news organizations.  Specifically, the …

John Oliver Blasts Prediction Markets, Calls Out Coinbase CEO Armstrong

HBO host John Oliver criticizes Kalshi and Polymarket on Last Week Tonight, highlighting market manipulation concerns and CFTC oversight failures. (Read More)

What John Oliver Got Wrong, Right About Prediction Markets on Last Week Tonight

Key Takeaways ▸ Most of Oliver’s worst examples like tragedy markets and suspiciously-timed geopolitical trades took place on Polymarket’s unregulated, offshore platform. ▸ Congress gave the CFTC explicit authority to block event contracts contrary to the public interest, but the agency has yet to conduct those reviews. But rulemaking could clear up what is and isn’t allowed. ▸ The CFTC is asking the right questions about advertising standards …