The gambling and predictive markets industry just keeps getting bigger. And in the sports world, gambling giants are at the center of media coverage — a sale in 2024 turned Diamond Sports Group’s channels into the FanDuel Network. Now, predictive markets are entering the realm of politics, with Kalshi and Polymarket saying they processed a combined total of $540 million in bets on the recent New York City mayoral race alone.

“We’re going to be talking about candidates in terms of odds and bets,” said John Hermann, tech columnist for New York Magazine. “I do think that that changes how people are thinking about the political process.”

“Marketplace” host Kai Ryssdal talked to Hermann about how the gambling industry is changing political media.

To listen to their conversation, use the media player above.