John Oliver used Sunday’s “Last Week Tonight” to call prediction markets gambling sites with better lawyers, adding the loudest voice yet to a backlash already being waged by state AGs, Congress and the sportsbook industry.
What Oliver Said
Oliver framed Kalshi and Polymarket as gambling sites operating in states where gambling remains illegal, arguing their hedging pitch strains credibility when most users trade sports or political word markets.
He cited one analysis showing more than two-thirds of all winnings on Polymarket have been captured by just 740 accounts, despite the platform having over two million users.
Oliver also went after CNN, Fox News, CNBC and Wall Street Journal parent Dow Jones for paid partnerships that put Prediction Market odds on air during news coverage, singled out Donald Trump Jr.’s advisory roles at both companies, and criticized CFTC Commissioner Michael Selig for suing three states rather than letting courts decide whether prediction …
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