Jun 24, 2026 · 24 min · 10 segments
In this podcast, Reed Smith’s Carolyn Rosenberg and Kalid Knox and HUB International’s…
Carolyn RosenbergGuest
David GarrigusGuest
Khalid KnoxHost
To set the stage, prediction markets are exchanges on which participants can buy or sell contracts based on the outcome of future events.
These event contracts are listed on Designated Contract Markets, or DCM for short, which is a platform federally regulated by the Commodities Future Trading Commission, although there has been some recent disputes on that point, which we may get into a bit later.
These event contracts and prediction markets allow participants to trade on everything from election outcomes and sports wagering to corporate earnings.
Prediction markets are a very hot topic, both from a financial standpoint, where trading volume has grown from roughly $1 billion to more than $20 billion in just five years, and in the news.
We have seen breaking headlines such as a U.S. soldier charged with using classified information to profit from prediction market trading.
Governors of New York, Illinois, and California, for example, signing executive orders barring state employees from using non-public information to trade on prediction markets.
And several state attorneys generals filing suits against prediction market and crypto exchanges alleging illegal gambling.
To set the stage, prediction markets are exchanges on which participants can buy or sell contracts based on the outcome of future events.
These event contracts are listed on Designated Contract Markets, or DCM for short, which is a platform federally regulated by the Commodities Future Trading Commission, although there has been some recent disputes on that point, which we may get into a bit later.
These event contracts and prediction markets allow participants to trade on everything from election outcomes and sports wagering to corporate earnings.
Prediction markets are a very hot topic, both from a financial standpoint, where trading volume has grown from roughly $1 billion to more than $20 billion in just five years, and in the news.
We have seen breaking headlines such as a U.S. soldier charged with using classified information to profit from prediction market trading.
Governors of New York, Illinois, and California, for example, signing executive orders barring state employees from using non-public information to trade on prediction markets.
And several state attorneys generals filing suits against prediction market and crypto exchanges alleging illegal gambling.
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