People have been gambling forever, so prediction markets aren’t so different as long as you don’t blow up your life.
That’s how Jamie Dimon sees one of the biggest trends of the year and he might not want to miss out.
The longtime chairman and chief executive of JPMorgan Chase, the world’s largest bank by assets, told CBS News this week that they are studying whether to launch prediction market services.
“Maybe. We’ve just started to ask this question,” said Dimon when asked whether JPMorgan could get involved in prediction markets. “It’s possible one day we’ll do something like that.”
If JPMorgan enters the space, it would avoid wagering on sports outcomes and political contests, Dimon noted.
“We’re not going to be in sports. We’re not going to be in politics. There are a bunch of stuff we won’t do,” he added.
Dimon said the bank would be strict about insider information, making it clear employees couldn’t use it for prediction markets, and that they’re still figuring out how it would all work.
Asked whether prediction markets are more like gambling or investing, Dimon said most of it feels like gambling, and he isn’t opposed as long as it doesn’t turn into a life-ruining addiction.
“For the most part, it’s more like gambling,” he noted. “But there are areas where you could say, no, it’s investing. You are deeply knowledgeable. You’re taking the other side of a bet.”
With its beginnings as a quirky research tool in 1988, prediction markets mostly stayed under the radar for years.
After Kalshi’s key legal wins in 2024 and a surge in trading during that year’s elections, big institutions jumped in by 2025, pushing prediction markets like Polymarket and Kalshi into the mainstream by 2026.
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