In a surprise interview during Berkshire Hathaway’s annual shareholder meeting over the weekend, billionaire investor Warren Buffett expressed a dim view of prediction markets, comparing them to a casino.
“If you’re buying one-day options or selling them, I mean, that’s not investing, it’s not speculating — it’s gambling,” Buffett told CNBC on Saturday.
Prediction markets are platforms where traders can bet on real-life events. Companies like Polymarket (which reportedly has over 2.3 million accounts) and Kalshi (5 million) have exploded in popularity in recent months despite warnings from experts about their many risks.
Now, the Oracle of Omaha is joining the chorus.
