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John Oliver examines prediction markets on Last Week Tonight

tvApr 20, 202615257

On April 19, 2026, John Oliver devoted Last Week Tonight S13 E08 to prediction markets, naming Polymarket and Kalshi and identifying Donald Trump Jr. as an investor and adviser to both firms. Oliver argued that structural features of those markets create insider‑trading risks, explaining how bets tied to private information and low liquidity can let informed traders profit. He highlighted investor ties and potential conflicts of interest to show why political and corporate event betting raises legal questions. Oliver urged regulators to clarify whether these platforms fall under securities rules or gambling laws and to consider enforcement action.

Key Highlights

Last Week Tonight S13 E08 aired on April 19, 2026.
Oliver named Donald Trump Jr. investor and adviser to Polymarket and Kalshi.
Oliver warned prediction markets' private-information trades and thin liquidity enable insider trading.