Reality is a Casino as Prediction Markets Enter Canada

Why are media companies like CNN and Substack joining forces with prediction markets like Polymarket and Kalshi?Both Polymarket and Kalshi have been all over the news and editorial pages: will these markets be a blight of insider trading and foreign interference? The next step on the slippery slope to online gambling addiction? Should we really be able to bet on kidnapping, war, the timing of someone else's death? But thanks to recent partnerships between big media and the prediction market companies, Polymarket and Kalshi are moving from being the subject of headlines to the co-creators of those headlines.Up until last week this was mostly an American game that Canadians could surreptitiously play through VPNs. Then it was announced that Canadian fintech company Wealthsimple, cleared regulatory hurdles to bring the markets to its millions of existing customers, bringing the tech to the masses.Gemma Boothroyd brings us the story.Host: Jesse BrownCredits: Gemma Boothroyd (Reporter), Tristan Capacchione (Audio Editor and Technical Producer), Bruce Thorson (Senior Producer), max collins (Director of Audio), Jesse Brown (Editor and Publisher)Fact checking by Julian AbrahamAdditional music by Audio Network More information:Strait of Hormuz tanker traffic won't return to normal for months, Kalshi bettors predict — CNBC "Controversial" predictions trading model could let you profit from real-world outcomes. — Global newsNHL player poll: As sports betting increases, so do harassing messages — and Venmo requests — The AthleticPolymarket gamblers threaten Israeli journalist over missile strike story | Israel | — The GuardianMLB further embraces sports betting in deal with prediction platform Polymarket — The AthleticPolymarket and Dow Jones, Publisher of The Wall Street Journal, Announce Exclusive Prediction Market Partnership — Dow JonesPower Corporation Announces Additional Investment in Wealthsimple — Power CorporationBetting on the Gatorade color? A former company executive reveals how it’s selected — The AthleticSponsors: Squarespace: Check out https://squarespace.com/canadaland for a free trial, and when you’re ready to launch use code canadaland to save 10% off your first purchase of a website or domain.Fizz: Visit https://fizz.ca and activate a first plan using the referral code CAN25 to get 40$ off and 10GB of free data.CarGurus: Buy your next car today with CarGurus at https://cargurus.caIt’s crowd-finding time at Canadaland! Share this episode with three people or simply send them over to canadaland.com/share and we’ll help them get started with a starter pack of some of our favourite episodes.Can’t get enough Canadaland? Follow @Canadaland_Podcasts on Instagram for clips, announcements, explainers and more.If you value this podcast, support us! You’ll get premium access to all our shows ad free, including early releases and bonus content. You’ll also get our exclusive newsletter, discounts on merch at our store, tickets to our live and virtual events, and more than anything, you’ll be a part of the solution to Canada’s journalism crisis, you’ll be keeping our work free and accessible to everybody. Hosted on Acast. See acast.com/privacy for more information.