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Prediction markets are opening many new opportunities for unregulated insider trading and unethical bets – in the name of making a game out of politics

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People wager on potential Democratic presidential candidates on the predictions market site Polymarket on Feb. 25, 2026. Scott Olson/Getty ImagesArrests for betting on the U.S. military operation that removed Venezuelan leader Nicolás Maduro. Death threats from gamblers to a journalist reporting on an Iranian missile attack on Israel. Fears of government officials manipulating world events – including the Iran war – to make a quick buck.

These are some of many concerns that experts have raised about how prediction markets – online marketplaces that allow people to bet on world events – might be affecting national security in the U.S. and abroad.

The Conversation contributors · CC-BY-ND 4.0

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