What Next: TBD | Tech, power, and the future · Slate Podcasts

Betting on Venezuela

January 9, 2026·24 min·2 clips

A mysterious trader turned $37,000 into $400,000 by betting on Venezuela's president being ousted just hours before it happened.

This episode investigates prediction markets like PolyMarket and Kalshi, exploring how they allow betting on everything from political events to trivial details with minimal regulation. It highlights a case where a trader profited massively from bets on Venezuela's political turmoil, raising concerns about insider trading, corruption, and the lack of oversight in this rapidly growing industry.

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