Prediction Market Betting Stretches Past Sports

The rapid growth of prediction markets is raising questions about sports wagering, younger traders, market manipulation, and regulation. Sean Patrick Maloney, CEO and President of the Coalition for Prediction Markets, argues federally regulated platforms should be treated as financial markets overseen by a well-funded CFTC, rather than casinos. He joins Bloomberg Businessweek Daily to discuss the industry's safeguards, the controversy surrounding sports contracts, and why he expects prediction markets to expand further into politics and financial markets.