CNN has sparked fierce backlash after announcing a partnership with Kalshi, a prediction market platform that allows users to bet on real-world events. The collaboration will incorporate Kalshi betting odds into CNN’s coverage, marking what critics are calling a disturbing merger of journalism and gambling.
Breaking Points hosts Krystal Ball and Saagar Enjeti delivered scathing criticism of the partnership, with Ball calling it “one of the grimmest developments in news that I have ever seen” and “the stuff of my nightmares.” Their concerns center on how betting markets could fundamentally corrupt news coverage and manipulate public discourse.
Kalshi co-founder Tariq Mansour revealed the platform’s ambitious vision during a promotional appearance, stating: “The long-term vision is to financialize everything and create a tradable asset out of any difference in opinion.” Mansour predicts prediction markets will eventually surpass the stock market in size, transforming into a trillion-dollar asset class.
The hosts drew parallels to sports b*tting’s corrupting influence, noting how widespread g*mbling has compromised athletic competitions. “We already know what this looks like because of sports,” Ball explained, pointing to increasing scandals involving players and referees on the take. The fear is that news coverage will follow the same trajectory, where viewers question whether what they’re watching is authentic or manipulated for profit.
Perhaps most troubling are the potential conflicts of interest. Enjeti highlighted a real Kalshi market where users bet $80,000 on what words Anderson Cooper would say during his CNN show. A low-level producer with advance knowledge could easily profit from such bets, raising serious ethical concerns about insider manipulation.
The criticism extends beyond CNN to the broader societal implications of widespread b*tting. Commentator Arnold Kling noted that prediction markets “literally disincentivize truth seeking,” as participants are rewarded for anticipating what others will believe rather than discovering actual truth. This creates financial incentives to manipulate narratives rather than report facts objectively.
Enjeti expressed particular concern about g*mbling addiction, citing the industry’s devastating human toll. “When it consumes people… it has one of the highest suicide rates of any addiction,” he warned, arguing that normalizing betting through partnerships with trusted news organizations will create millions of new gambling addicts.
The partnership arrives as prediction markets expand rapidly across America. Platforms like Fanatics, FanDuel, and DraftKings are launching prediction markets in states where they don’t even offer sports betting, effectively circumventing gambling regulations. Sports betting companies now generate more revenue than Hollywood’s entire theatrical box office.
Both hosts called for viewers to boycott CNN over the partnership, with Ball declaring it “degrading to society” and urging audiences to “let them know what you think.” As gambling increasingly infiltrates every aspect of American life, the CNN-Kalshi partnership represents a troubling milestone in what critics view as the complete financialization of public discourse.