The prediction markets are catching on with Wall Street interns
A Morgan Stanley survey of summer interns reveals a significant rise in the use of AI tools and prediction market apps like Polymarket and Kalshi. While interns are increasingly adopting these platforms for betting and data, they also express concerns regarding job displacement due to AI.
Why it matters
The trend highlights a shift in how the next generation of finance professionals interacts with emerging technologies and speculative markets, prompting regulatory and internal policy scrutiny.
Spencer Platt/Getty Images Morgan Stanley surveyed more than 500 interns about their habits, including on AI and betting. AI use surged compared to last year, though more than 60% are worried about job replacement. More than a quarter of interns said they'd used a prediction market app in the past year. The summer intern hunched over their phone, surreptitiously typing away, might be doing one of two things: betting on a prediction market or managing an AI chatbot. Morgan Stanley's equity research team asked the firm's summer interns about both their AI use and, for the first time, betting habits as part of its annual survey. More than 500 North American interns, most of whom are 21 or younger, participated in this year's survey , which was conducted in June and published in August.
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