What Even Is Money? - Slate Money

This week: The price of gold has skyrocketed to over $4k an ounce. <a href="https://bsky.app/profile/did:plc:zxqezqfhjwidbrsvk66ded57">Felix Salmon</a>, <a href="https://www.elizabethspiers.com/">Elizabeth Spiers</a>, and <a href="https://www.axios.com/authors/epeck">Emily Peck</a> speculate why this might be happening right now – or if there even is a “why”. Then, Intercontinental Exchange has announced an investment of $2 billion in Polymarket, upping the valuation from $1 billion to $8 billion. The hosts discuss what makes prediction markets so big right now and the increasingly murky distinction between "betting” and “investing”. And finally, several Bob Ross paintings are being auctioned for charity prompting a Slate Money listener to ask what the market is for his work. Felix breaks down the oddity that is the Bob Ross painting market and explains how charity auctions can skew the value of a piece of art. In the Slate Plus episode...