Prediction markets try to attract journalists through partnership deals

Some predictive market exchanges are now trying to close deals with individual correspondents. Rick Ellis, a freelance entertainment journalist who runs AllYourScreens.com He writes a newsletter on Substack about TV and streaming Edge Received an offer this week.

The deal involved producing two stories a week based on data from prediction markets – in Ellis’ case, this could be things like who might win that season of Survivor Or which couples will end up together in the end Love is blind. Ellis said the proposed amount was in the “mid to upper hundreds (of dollars) per post,” with the possibility of getting more money if the article reached certain metrics such as the number of clicks. Ellis declined to name the specific exchange the offer came from.

“I’ve been a reporter my whole life, both in and out of the country,” Ellis says. “I don’t mind being offered something. Maybe I’ll see something and say, ‘Oh, that would be a good story.'” But getting paid to do it was crossing a line that I wasn’t willing to do.

Journalists are regularly approached by public relations firms, data providers and other entities in the hope of gaining coverage of their work, which may lead to their inclusion in a story. Both independent media outlets and large newsrooms sometimes publish work sponsored by a company, even though the sponsor has no editorial influence. However, getting paid to mention a company or use a particular company’s data would violate the ethics policies of many outlets (I’d definitely get fired, for example).

Kalshi declined to comment. Polymarket did not respond to a request for comment.

Prediction markets allow anyone to bet on the outcome of a future event – ​​such as “Will the Iranian regime fall by March 31?” to “Where will Travis Kelce and Taylor Swift’s wedding take place?” Over the past year or so, some media outlets have begun citing the prospects of Polymarket and Calci in their coverage; With a new sponsorship program, some of Substack’s popular newsletters are filled with market odds and predictions Bearing detection at the bottom: “This is part of a data partnership with Polymarket.”

Polymarket and everything claim The bets they collect have a benefit and are like publishing polling data or news, but with money behind them. Critics call what they do gambling, and everything is confronted Multiple lawsuitsincluding a complaint filed by the Arizona Attorney General accusing her Running an illegal gambling business.

Ellis says the offer to him would have yielded a huge windfall. He says entertainment media already has financial incentives behind the scenes — with Hollywood companies competing for studio advertising dollars — and that affects editorial coverage. It also faces an existential threat Consolidation of ports, Employees are laid offand the public information ecosystem is becoming increasingly fragmented.

“It’s hard for me to say no, but I didn’t feel like I could live with myself,” Ellis says. “The main reason people pay for and read my newsletter is because they trust me.”