Fox Corporation announced Tuesday it will incorporate real-time data from the Kalshi prediction market across its major news and entertainment platforms. The integration will feature Kalshi forecasts on Fox News Channel, Fox Business Network, Fox Weather, and the Fox One digital platform, marking a significant expansion of prediction market visibility in mainstream media.
Executives Tout Data as News Complement
Kalshi CEO Tarek Mansour framed the partnership as a response to audience demand for alternative data sources. "More people are watching our forecasts than trading them," Mansour stated. "This indicates our data effectively complements traditional news and polling by providing accurate, unbiased information to help people understand world events." Paul Cheesbrough, CEO of Fox's Tubi Media Group, described the integration as a "compelling" development that would deliver "deeper insights and a more engaging way" for audiences to follow major stories.
Congressional Scrutiny Intensifies Over Security Risks
The corporate announcement comes amid escalating concern in Washington about prediction markets. Lawmakers have warned these platforms could enable insider trading by individuals with non-public information and pose national security threats if sensitive events become subjects of public wagering. These concerns have been amplified by recent geopolitical tensions, such as those seen when a presidential ultimatum to Iran rattled global markets.
A prominent case involved an anonymous user on the rival platform Polymarket, who in late December placed over $32,000 in bets predicting the ouster of Venezuelan leader Nicolás Maduro by January 31. The user, who wagered exclusively on four events related to a potential U.S. operation in Venezuela, netted a payout exceeding $400,000, raising alarms about possible information asymmetry.
Bipartisan Senate Coalition Sounds Alarm
In a January letter to Commodity Futures Trading Commission (CFTC) Chair Mike Selig, a group of Democratic senators led by Catherine Cortez Masto (D-Nev.) and Chris Van Hollen (D-Md.) outlined specific dangers. "If prediction market contracts that implicate military operations or other national security considerations are manipulated by insider information, or even listed, it is possible for foreign adversaries to use this to their advantage," they wrote. The senators' warning highlights how market volatility linked to international crises, like when the Dow entered correction territory amid Iran conflict fears, could be exacerbated by speculative platforms.
The regulatory landscape remains in flux, as evidenced by the CFTC's recent preemption lawsuits against three states that attempted to crack down on prediction markets, asserting federal regulatory authority.
House Ethics Action and Growing Popularity
Scrutiny has moved beyond letters to concrete policy. In March, Representative Seth Moulton (D-Mass.) instituted a formal ban prohibiting his congressional staff from trading on prediction markets, a move highlighting deepening ethical concerns. Moulton has been vocal on the issue, having previously condemned a market for wagering on the fate of a downed U.S. pilot.
Despite political pushback, prediction markets are gaining traction, particularly among younger demographics. A January survey found 32% of Gen Z respondents and 24% of millennials said they have already invested or plan to invest in sports betting or prediction markets by 2026. Platforms allow wagers on a wide array of outcomes, from election results and sporting events to the deaths of public figures.
The Fox-Kalshi partnership represents a major legitimization of prediction markets as a news tool, even as Washington debates their risks. The integration will test whether real-time crowd-sourced forecasting can coexist with journalistic standards while operating under a cloud of bipartisan regulatory and security concerns. The move also reflects a broader media trend toward interactive and data-driven content, as traditional networks seek to engage audiences increasingly skeptical of conventional polling and reporting.
