Prediction markets, which allow users to bet on outcomes ranging from political events to entertainment results, have become increasingly accessible, raising concerns about insider trading. Once limited to legal gambling hubs like Las Vegas and Atlantic City, the rise of online platforms such as Kalshi and Polymarket now enables people to wager on nearly any event worldwide.

David Marcus, writing for Fox News on July 25, 2026, highlights how these markets create an environment where "dozens, maybe even hundreds of people know [event outcomes], thousands probably have inside info," yet legal repercussions only apply if such information is publicly disclosed. He points to examples like betting on the winner of the reality TV show "Big Brother," where insiders could discreetly tip off acquaintances to place large bets.

Current regulatory efforts at both state and federal levels are underway, but Marcus argues that short of completely shutting down these markets, it is nearly impossible to prevent widespread insider trading. He notes that with the proliferation of prediction markets, "far, far more people have the feedbox noise than ever before," paraphrasing Andy Warhol to say, "in the future, everyone will have inside information on a prediction market for 15 minutes."

Users now can bet on diverse outcomes, such as whether SpaceX will successfully launch by July 31 or if Rihanna’s next album will release before the upcoming Grand Theft Auto video game. Marcus concludes that if a business, political campaign, or entertainment event becomes the subject of a prediction market, individuals must personally assess the fairness of placing wagers, as there are few safeguards against insider trading.

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