Prediction markets are exploding into mainstream chatter, and while Kalshi and Polymarket grab headlines, publicly traded plays may be the smarter way to invest in the boom.

Prediction markets, which allow wagers on almost anything in politics, business or culture, takes betting to a new level.

In the investment world, artificial intelligence (AI) has already gone from one of the great technological advancements of our time to a destructive force that will ruin industries. While that may ...