Freakonomics Radio

Podcasting started as a niche-nerd pursuit. Now it’s a $9 billion industry. Is that a lot? The strange economics of this thing we do.

SOURCES:Jim Bankoff, chairman and C.E.O. of Vox Media.
Ben Davis, head of digital at WME.
Will Page, former chief economist at Spotify and author of Pivot.
Jenna Weiss-Berman, head of Paper Kite Audio and executive producer of Good Hang with Amy Poehler.
Jeanine Wright, co-founder and C.E.O. of Liquid Studios (Inception Point AI).


RESOURCES:"U.S. AI infrastructure buildout is surpassing every prior investment in American history," by Cris Tolomia (Quartz, 2026).
"The AMP Accords," (Alliance for Measurement in Podcasting, 2026).
"Owl & Co: Global Podcast Economy Grew 23% To $9.2 Billion In 2025." (Inside Radio, 2026).
"James Murdoch to Buy New York Magazine, Other Vox Assets for Around $300 Million," by Isabella Simonetti and Jessica Toonkel (The Wall Street Journal, 2026).
"Patreon Says Podcasters Earned $629 Million in 2025, Up 33%, as Platform's Biggest Content Category Keeps Growing," by Todd Spangler (Variety, 2026).


EXTRAS:"How to Think About A.I.," series by Freakonomics Radio (2023).
"How Spotify Saved the Music Industry (But Not Necessarily Musicians)," by Freakonomics Radio (2019).
"Our 100th Episode!" by Freakonomics Radio (2012).

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An economist calls America’s beef industry a “miracle.” An antitrust scholar calls it “broken.” Maybe they’re both right?

SOURCES:Austin Frerick, agriculture antitrust expert, fellow at Yale University, author of Barons: Money, Power, and the Corruption of America's Food Industry.
Robert Hodgen, C.E.O. of King Ranch.
Roger Horowitz, food historian, director of the Center for the History of Business, Technology, and Society at the Hagley Museum and Library.
Derrell Peel, Charles Breedlove Professorship of Agribusiness in the department of agricultural economics at Oklahoma State University.


RESOURCES:"The hamburger story," by Derrell Peel (Beef, 2026).
"Trump is letting in 300,000 tons of beef duty-free. Don’t expect cheaper burgers," by Elisabeth Buchwald (CNN, 2026).
"DOJ Probes Soaring Beef Prices at Eight Major Stores Including Walmart," by Hugh Cameron (Newsweek, 2026).
"Takeaways from the Pause on Foreign Corrupt Practices Act Enforcement," by Brendan Quigley, Bridget Moore, Kyle Clark, and Baker Botts (Harvard Law School, 2025).
"Tyson and Leviathan: USDA Rulemaking and the PSA Harm to Competition Requirement," by Spencer James Parts (University of Chicago Business Review, 2022).
"Average Price: All Uncooked Ground Beef (Cost per Pound/453.6 Grams) in U.S. City Average," (Federal Reserve Bank of St. Louis).


EXTRAS:"An Economics Lesson from a Talking Pencil (Update)," by Freakonomics Radio (2025).
"The Future of Meat," by Freakonomics Radio (2019).

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That’s the question at the heart of a battle between Kalshi and state gambling regulators. As prediction markets boom, there are other questions, too — about insider trading, market manipulation, and whether the public has turned against them. (Part two of a two-part series.)

SOURCES:Gary Gensler, former chair of the S.E.C. and the C.F.T.C.
Robin Hanson, professor of economics at George Mason University.
Nicole Kagan, head of research at Kalshi.
Tarek Mansour, co-founder and C.E.O. of Kalshi.


RESOURCES:"Shall We Vote on Values, But Bet on Beliefs?" by Robin Hanson (Journal of Political Philosophy, 2013).


EXTRAS:"Are Prediction Markets the Best Forecasting Tool Ever — or Just Another Casino?" by Freakonomics Radio (2026).
"He Helped Clean Up the Last Crash. Does He See Another One Coming?" by Freakonomics Radio (2026).
"The Economics of Sports Gambling," by Freakonomics Radio (2019).

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The promise is that they can beat the experts at predicting inflation, elections, and FDA approvals. But right now, roughly 90 percent of the action is sports. Is this a future we want to bet on? Stephen Dubner speaks with, among others, the C.E.O. of Kalshi. (Part one of a two-part series.)

SOURCES:Robin Hanson, professor of economics at George Mason University.
Nicole Kagan, head of research at Kalshi.
Tarek Mansour, co-founder and C.E.O. of Kalshi.


RESOURCE:"Kalshi and the Rise of Macro Markets," by Anthony Diercks, Jared Dean Katz, and Jonathan Wright (Federal Reserve Board, 2026).
"Slowly, Then All At Once: What Mamdani's Victory Tells Us About Information Aggregation," (Kalshi Research, 2026).
"Futarchy: Vote Values, But Bet Beliefs," by Robin Hanson (2000).
"The Use of Knowledge in Society," by Friedrich Hayek (American Economic Review, 1945).


EXTRAS:"The Economics of Sports Gambling," by Freakonomics Radio (2019).
"How to Be Less Terrible at Predicting the Future," by Freakonomics Radio (2016).
"The Folly of Prediction," by Freakonomics Radio (2011).

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He was thriving in the N.F.L., but then he decided to focus on mathematics — a subject he now teaches at M.I.T. John walks Stephen Dubner through the whole story, teaches him some blocking techniques, and explains why some infinities are bigger than others.

If you'd like to see the video version of Better in Person, you can watch it on YouTube or Apple Podcasts.

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