# UK Must Embrace Prediction Markets As a Bet on the Future 

Perhaps it is a fear of the unknown or incumbent gambling firms’ sway, but throttling an industry that has been experiencing spectacular growth is a mistake.

July 1, 2026 • Commentary 

By [Ryan Bourne](https://www.cato.org/people/ryan-bourne) 

This article appeared in [*The Times*](https://www.thetimes.com/) on July 1, 2026.

Perhaps it is a fear of the unknown or incumbent gambling firms’ sway, but throttling an industry that has been experiencing spectacular growth is a mistake.

##### About the Author 

[![Ryan Bourne](/sites/cato.org/files/styles/author_picture/public/2021-01/Ryan%20Bourne.jpg?itok=nv8-2r7d)](/people/ryan-bourne) 

##### [Ryan Bourne](/people/ryan-bourne)

R. Evan Scharf Chair for the Public Understanding of Economics, Cato Institute

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