Prediction Markets Let You Bet on Anything. That’s a Problem

In late May, federal authorities charged a Google software engineer with insider trading after he won $1.2 million on the prediction-market website Polymarket. The 36-year-old Michele Spagnuolo allegedly placed bets that musician D4vd and rapper Kendrick Lamar would top Google’s most-searched list. The bets paid off, prosecutors said,

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