GoKawiilEx-CFTC Chair Giancarlo Defends Prediction Markets as Social Good on Bloomberg TV
Former CFTC chairman James Christopher Giancarlo, now an adviser to companies including Polymarket, told Bloomberg TV that prediction markets benefit society because they satisfy a basic human desire for certainty. Pressed by anchor Tim Stenovec on concerns about the 'gamification' of betting on everything from weather to elections, Giancarlo said such markets aggregate the 'wisdom of the crowd' more effectively than traditional polling.