Polymarket

So-called prediction markets have become all the rage across a wide swath of topics, from election results to gas prices to the amount of snowfall might occur in a given place. The Kentucky Derby and horse racing at large? That topic was the subject of a panel entitled 'Prediction Markets and Wagering: An Emerging Threat To Horse Racing and Interstate Horseracing Act Revenue' during Thursday's session of the National HBPA Conference at Oaklawn Park. Speakers agreed that prediction markets have the ability to dwarf even sports betting in America. The...

Can racing withstand the addition of yet another existential threat to the ever-expanding list of practices deemed harmful to our sport's health? Dennis Drazin, the chairman and chief executive officer of Darby Development LLC, which operates Monmouth Park, warned last week that the rising wave of prediction markets should be met with a greater sense of urgency and should be getting more scrutiny from racetrack operators and regulators. "I'm growing more and more concerned about the prediction market companies, such as Kalshi, Polymarket, and others that are now offering bets...