Prediction markets are eating politics

No one used to argue about the phrase “insider trading.” For decades, those two words connoted a transgression, a crime, something unambiguously tainted. But lately, with the meteoric rise of prediction markets such as Polymarket and Kalshi, leveraging niche information for personal, financial, and even political gain has become, well, commonplace. As the 2026 midterm elections approach, these markets are turning elections into yet another exchange, a place for insiders and analysts to strike...