Meet Polymarket’s $400 Million Man

Listen and subscribe to Everybody’s Business on Apple, Spotify, iHeart and the Bloomberg Terminal.
Prediction markets have never been this popular, with more people making bigger bets on everything from the number of times Jerome Powell will say the word inflation to the question of whether Donald Trump or the Pope will get more Google searches in 2025. Meanwhile major investors are buying up stakes in prediction companies. Last week’s episode explored the reasons for this surge in interest, including the growing popularity of gambling and the light touch the current US administration has taken to regulating potentially sketchy financial markets.