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cover of episode Millions of Bets Flood in on 2024 US Election & Pharmacy Giants are Shrinking

Millions of Bets Flood in on 2024 US Election & Pharmacy Giants are Shrinking

2024/10/16
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Prediction markets are gaining popularity as a tool for forecasting election outcomes, offering a potentially more dynamic and real-time alternative to traditional polling. However, concerns exist regarding potential manipulation by wealthy individuals and the overall impact on the democratic process. This election cycle will be a key test of the accuracy and influence of these platforms.
  • $1.9 billion has been wagered on PolyMarket, a crypto-based prediction market.
  • Kalshi, a US-based platform, saw $12 million in trading volume in its first few days.
  • Prediction markets suggest Trump has a lead over Harris, while polls indicate a tie.
  • These markets could be more accurate due to 'skin in the game,' but are also susceptible to manipulation.
  • They offer a more agile and real-time reflection of events compared to traditional polls.

Shownotes Transcript

Episode 432: Neal and Toby discuss the huge influx of bets being made on the US presidential election and why the lifted ban on prediction markets is huge. Then, Walgreens is closing up 1,200 stores, joining a growing number of pharmacies shutting down as payments for prescription drugs are drying up. Next, the highly anticipated ‘Joker’ sequel, which cost $200M to make, is struggling to break even at the box office. Plus, the Victoria’s Secret Fashion Show is back after going into complete overhaul since its string of controversies. Meanwhile, the Las Vegas Sphere will get a twin as a new Sphere will be built in Abu Dhabi. Lastly, Boston’s Women’s Soccer team has a brand new name that breaks normal naming conventions of sports teams. 

00:00 - Jane Street interns paid $250K/yr!?

3:15 - Prediction markets are surging

8:30 - Walgreens struggles to keep up

12:50 - Joker 2 is Hollywood’s latest flop

18:50 - Victoria’s Secret Fashion Show is back

22:10 - Las Vegas Sphere gets a twin

25:45 - Boston’ newest sports team gets its name

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