The booming prediction markets is prompting confusion and concern

Growing concerns over insider trading in booming sector

A Polymarket advertisement asking what price Bitcoin will hit in 2026 in a subway station in New York. Picture: Michael Nagle/Bloomberg

Betting on prediction markets has been around for a while since 2019, but the craze surrounding these platforms is rapidly gathering steam.

Users can bet on virtually anything, from the outcome of the Super Bowl to the Ireland vs Italy match or whether the US will invade Greenland, every second of every day.