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A Kalshi billboard displaying New York City mayoral election odds in New York, Oct. 27, 2024. Michael Nagle/Bloomberg via Getty Images

COVER STORY: Wanna bet? Online prediction markets wager that you will

The people behind the prediction market Kalshi, where people can place wagers on everything from elections and sports contests to the anticipated bridesmaids at Taylor Swift's wedding, say its users trade a billion dollars every week. But as prediction markets are expanding, this burgeoning business model is coming under the scrutiny of some state regul

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