In a live appearance on Bloomberg TV, James Christopher Giancarlo, former chairman of the US Commodity Futures Trading Commission which regulates digital commodity and digital asset trading, insisted that America’s growing addiction to prediction markets is a net benefit for society as a whole.

During the interview, Bloomberg anchor Tim Stenovec challenged the former watchdog around the “existential question” posed by prediction markets.

“I have people getting in touch with me on the Bloomberg terminal all the time who are like, ‘I do not want my kids exposed to this…