In an era where every headline seems ripe for speculation, prediction markets like Polymarket and Kalshi are transforming news into a high-stakes game. These platforms allow users to wager on real-world outcomes - from political upheavals to celebrity scandals - turning passive consumption into active betting.
While Polymarket has grabbed the crypto spotlight as a "Web3 oracle," its more traditional rival, Kalshi, is quietly dominating the scene with fiat-friendly operations and fresh media partnerships. But as CNN and CNBC weave these markets into their broadcasts, a deeper question emerges: Are news giants inadvertently fueling a gambling addiction epidemic?
Polymarket: The Decentralized Darling Under Scrutiny
Polymarket, built on blockchain technology, lets users bet on events using cryptocurrency, often without traditional financial licenses. It gained fame as a "truth machine," aggregating crowd wisdom to forecast outcomes like elections or economic shifts.
However, its decentralized nature has invited regulatory heat; U.S. authorities raided CEO Shayne Coplan's home in November 2025, seizing devices amid investigations. Despite this, Polymarket's trading volume exploded to $9 billion in 2025, projected to hit even higher amid global events.
A quirky incident highlighted its vulnerabilities: Coinbase CEO Brian Armstrong trolled the platform during a November 2025 earnings call by deliberately uttering words like "mention markets" that were subjects of active bets on Polymarket and Kalshi.
This "stunt" manipulated outcomes, exposing how insiders could game the system and sparking debates on market integrity. Armstrong later called it "just having some fun," but it underscored the risks in these unregulated spaces.
Kalshi: The Licensed Powerhouse Gaining Ground
Kalshi operates more like a conventional exchange, focusing on fiat payments and holding necessary U.S. licenses, which shields it from some of Polymarket's regulatory woes.
Users bet on binary outcomes, such as "Will the U.S. government acknowledge extraterrestrial life by end-2025?" or "Which firm will lead in AI coding tech: OpenAI or Anthropic?" This accessibility has propelled Kalshi to a commanding 66% market share in global prediction markets as of December 2025, surpassing Polymarket's 33%. In September 2025 alone, Kalshi captured 66.59% of volume, boosted by its fiat integration and partnerships.
While Polymarket thrives on hype - often amplified by crypto communities - Kalshi's edge lies in mass appeal and strategic alliances, making it the go-to for mainstream bettors.
Media Integration: Turning News into a Betting Arena
Kalshi's latest coup? Exclusive partnerships with CNN and CNBC, announced in early December 2025, to embed real-time prediction data into news coverage. Starting in 2026, CNBC will feature Kalshi's probabilities on shows like Squawk Box and Fast Money, while CNN integrates them across its global newsroom for politics, culture, and weather forecasts.
Imagine a anchor dissecting geopolitical tensions, with on-screen odds popping up: "Will protests lead to regime change? Kalshi says 45% yes."
No direct betting from broadcasts yet - no SMS votes or in-app wagers - but the setup paves the way for embedded widgets on news sites.
This boosts viewer engagement for media outlets and funnels traffic to Kalshi, legitimizing prediction markets as a standard analytical tool rather than fringe gambling. As one analyst noted, it's the "casino-fication of news," turning stories into interactive bets.
The Dark Side: Normalizing Ludomania
This fusion of news and betting raises alarms about promoting ludomania - gambling addiction - one of society's most insidious dependencies. Prediction markets gamify reality, making every event a potential wager, and media integration could hook viewers deeper. Critics argue it erodes journalistic objectivity, with forecasts influencing narratives.
Yet, the market is hot: Combined volumes for Polymarket and Kalshi reached $4.5 billion in October 2025, with weekly highs topping $2 billion. Even Binance is eyeing the space, with founder CZ announcing a zero-fee prediction market called Probable on BNB Chain via PancakeSwap in December 2025, aiming to rival the duo.
As news outlets embrace this trend, the line between information and speculation blurs. Is it empowering crowdsourced insights or fueling a societal gamble? With platforms like Kalshi leading the charge, 2026 could see betting become as routine as checking the weather - profitable for some, perilous for many.
Also read:
- The New Era of Bitcoin: Why Fed Rate Cuts No Longer Guarantee a Bull Run
- Truth Social Enters the Prediction Market Arena with Truth Predict, Challenging Polymarket and Kalshi
- Trump Considers Pardon for Samourai Wallet CEO Amid Crypto Leniency Wave
Author: Slava Vasipenok
Founder and CEO of QUASA (quasa.io) - Daily insights on Web3, AI, Crypto, and Freelance. Stay updated on finance, technology trends, and creator tools - with sources and real value.
Innovative entrepreneur with over 20 years of experience in IT, fintech, and blockchain. Specializes in decentralized solutions for freelancing, helping to overcome the barriers of traditional finance, especially in developing regions.
This is not financial or investment advice. Always do your own research (DYOR).
