Vanguard chief warns of ‘financial exploitation’ by prediction markets
Boss of $12tn asset manager echoes criticism of platforms such as Polymarket and Kalshi
Boss of $12tn asset manager echoes criticism of platforms such as Polymarket and Kalshi

Some investors reduce positions or buy protection for their portfolios amid concerns over valuations

As new bettors flock to platforms such as Kalshi and Polymarket, some make easy prey for trading firms and professional gamblers

But it relies on a host of rosy assumptions going in investors’ favour

World’s second largest asset manager estimates reduction will save investors $3.5mn a year

Portfolio management should be based more on themes such as innovation

Markets have shrugged off everything from geopolitics to financial crises