In defence of . . . prediction markets?

Plus500 has achieved a three-year record high in revenue, which rose 12 per cent year on year to $462.9m. The company attributes this growth to its expansion into the surging US prediction markets and heightened market volatility. Despite the revenue surge, earnings before tax remained flat at $187.5m, as growth was offset by other factors. Meanwhile, discussions continue regarding the implications of turning various events into wagers within these prediction markets.