Prediction markets are a $150 billion industry. And they had money on Bengal and Tamil Nadu

West Bengal and Tamil Nadu declared their results yesterday. BJP swept Bengal after fifteen years of TMC rule. In Tamil Nadu, Vijay's TVK won, upending the DMK return almost everyone had predicted, including the platforms that had money on it.

Prediction markets are now a $150 billion industry. And they were taking live bets on India's assembly elections, on a platform India officially banned last year. In a recent edition of The Ken's Make In India Competitive Again, Seema Singh wrote about an interesting research paper. While most assume the trading volumes were not high enough for concern, this peer-reviewed paper in Science says otherwise. In fact, this it says, it matters even when the volumes are thin, or maybe especially then.

So what is India's ban actually achieving?

Tune in.

Also listen to: India banned online betting. Polymarket is wagering on our elections anyway. 

Creators and Guests

Host

Snigdha Sharma

Senior producer and co-host of The Ken's flagship daily news podcast. Previously hosted and produced podcasts at The Indian Express and Newslaundry

What is Daybreak?

Business news is complex and overwhelming. It doesn’t have to be. Every day of the week, from Monday to Friday, Daybreak tells one business story that’s significant, simple and powerful.

Hosted from The Ken’s newsroom by Snigdha Sharma and Rachel Varghese, Daybreak relies on years of original reporting and analysis by some of India’s most experienced and talented business journalists.