local
Economists have long pushed for prediction markets. The reality is not what they’d hoped for
By CNN Newsource at KVIA ABC-7
· June 21, 2026
· 1 min read
By Allison Morrow, CNN
New York (CNN) — Long before the founders of Kalshi and Polymarket were even born, a handful of economists were getting amped about a novel approach to dealing with one of humanity’s more egregious shortcomings: We’re bad at predicting the future.
Maybe, the thinking we...
Key takeaway By Allison Morrow, CNN New York (CNN) — Long before the founders of Kalshi and Polymarket were even born, a handful of economists were getting amped about a novel approach to dealing with one of humanity’s more egregious shortcomings: We’re bad at predicting the future.
Why this matters in The El Paso
In El Paso , the evolution of prediction markets has significant implications for local businesses and policymakers. As these markets continue to grow, largely driven by sports betting, it's crucial to consider how they might be harnessed to inform decisions on issues like economic development, public health, and environmental risk. The fact that prediction markets have successfully anticipated key economic data points, such as inflation rates and interest rate decisions, suggests they could be a valuable tool for local leaders seeking to make data-driven decisions. However, the lack of regulation and oversight in the industry raises concerns about the potential for manipulation and exploitation. As El Paso looks to navigate the complexities of prediction markets, it will be important to strike a balance between leveraging their potential benefits and mitigating their risks.
About this story
Original reporting by KVIA ABC-7 . The El Paso surfaces reporting from trusted publishers and adds local editorial context so readers can quickly understand what a story means for their community. We attribute every source, link to the original report, and follow a documented editorial standards policy. To understand how stories are selected and reviewed, read our about page .
For the complete original report, visit KVIA ABC-7 . Have a tip or correction? Contact our newsroom .
Category: local ·
Published: June 21, 2026 ·
Source: KVIA ABC-7 ·
Reading time: 1 min
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Frequently asked about this story
What is this story about? By Allison Morrow, CNN
New York (CNN) — Long before the founders of Kalshi and Polymarket were even born, a handful of economists were getting amped about a novel approach to dealing with one of humanity’s more egregious shortcomings: We’re bad at predicting the future.
Maybe, the thinking we...
When was this published? This article was first published on June 21, 2026 by KVIA ABC-7 and curated for The El Paso readers.
Who reported this story? This story was reported by CNN Newsource at KVIA ABC-7. To learn more about how The El Paso selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more local coverage from The El Paso, or browse our daily briefing and topic hubs .
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