The Case for Betting on Politics
How and why political prediction markets are having their Washington moment
Hello, all, from the New Jersey Turnpike, as I beat a path for the weekend back to the northern part of the state where I grew up. (Don't worry, I'm playing passenger at the moment. The Ikea at exit 13A says hey.) I'm getting in touch because I wanted to share a new story I have out that might be of interest.
(By way of quick reminder, you're getting this email because you are signed up for occasional updates from me, Nancy Scola. And thank you for that.)
It's a piece in Washingtonian Magazine, structured as a profile of Pratik Chougule, the D.C.-area host of the podcast "Star Spangled Gambler." Chougule is at the forefront of a push to mainstream political prediction markets, which up until very recently existed in a legal gray zone.
Chougule has what I think is a fascinating tale of coming to believe that betting on politics, despite its rather seedy reputation, can help redeem American democracy. That might seem like a fringe take, but regulators in Washington are beginning to act like they believe it, too. And so understanding the arc of Chougule's life helps us, I think, understand this policy moment better. I hope you might give it a read.
I've really enjoyed writing for Washingtonian over the years. (For what it's worth, our profile of National Security Archive director Tom Blanton recently won the Society of Professional Journalists’ D.C. chapter's Dateline Award for magazine feature.) So it's a treat to say that I've been added to the masthead as a contributing writer. I remain a contributing writer at Politico Magazine, as well as writing for other publications. But look for me in Washingtonian as I cover curious Washington characters plus other intersections of my 'beat' and the DMV.
If somehow that's not enough Scola for one day, I've had some recent podcast appearances that could be up your alley: Slate's "What Next: TBD” on the current state of antitrust enforcement, “The Realignment” podcast on how political “idea flow” works, and “Coffee with a Journalist" on the source-facing part of my reporting process.
Hope your summer's proving a good one so far. Thanks as always for reading and listening.
-Nancy