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Prediction markets were once a fringe idea championed by economists and forecasters who believed crowds could outthink experts. Now they're a billion-dollar industry, and the people who built them are nervous. At a recent gathering in Berkeley, veterans of the space warned that the flood of sports betting money could corrupt the intellectual project they spent decades defending.
That tension between idealism and commerce echoes in the AI space too. A new analysis suggests the enterprise AI gold rush has peaked, and the companies that chased flashy deployments without building governance frameworks are now exposed. The next competitive edge, analysts say, won't come from who adopted AI first, but from who actually learned to control it.
And in the world of digital credit, Strive Asset Management CEO Matt Cole is pointing to leverage liquidations as the culprit behind a sharp selloff in two tokenized credit products this week. Both instruments dropped hard before rebounding, a reminder that even new financial instruments carry very old risks when borrowed money is involved.
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