‘Bet on the most wild things’ | What are prediction markets?

Sports wagering was just the beginning of a betting boom across the country. Now prediction markets offer the opportunity to bet on just about anything.

While sportsbooks deal with games and matchups, perhaps an important someone with insider information, is making hundreds of thousands of dollars betting on whether the Strait of Hormuz will be closed by this time next week. Or who will be the last one standing in the latest season of “Survivor” or taking home the Oscar for best picture.

WRAL digital producer Jaylin Jones and sports investigative reporter Brian Murphy talk through what prediction markets are and its impacts in a modern speculative landscape.