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If You're Listening · July 22 · 27 min

How to get away with selling classified information

There's a Polymarket account called Magamyman that's terrible at picking elections, but it's made $800,000 betting on exactly when the US would strike Iran, cashing in within minutes of the bombs actually falling… and it’s not alone. Donald Trump's own teleprompter operator is under investigation for betting on his boss's speeches, and a US soldier allegedly bet on capturing Nicolas Maduro days before doing it himself. Prediction markets like Polymarket and Kalshi have exploded into a $20 billion industry, and they're built on a simple promise: that crowds are smarter than any individual, and secrets are worth cashing in on. But, with Trump's own son advising both platforms and regulators standing down, who's actually watching for insider trading? Follow If You're Listening on the ABC Listen app. Check out our series on YouTube: https://www.youtube.com/playlist?list=PLDTPrMoGHssAfgMMS3L5LpLNFMNp1U_Nq

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There's a Polymarket account called Magamyman that's terrible at picking elections, but it's made $800,000 betting on exactly when the US would strike Iran, cashing in within minutes of the bombs actually falling… and it’s not alone. Donald Trump's own teleprompter operator is under investigation for betting on his boss's speeches, and a US soldier allegedly bet on capturing Nicolas Maduro days before doing it himself. 

Prediction markets like Polymarket and Kalshi have exploded into a $20 billion industry, and they're built on a simple promise: that crowds are smarter than any individual, and secrets are worth cashing in on. But, with Trump's own son advising both platforms and regulators standing down, who's actually watching for insider trading?

Follow If You're Listening on the ABC Listen app.

Check out our series on YouTube: https://www.youtube.com/playlist?list=PLDTPrMoGHssAfgMMS3L5LpLNFMNp1U_Nq

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