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Published
March 1, 2026
6:34 PM PST

The rise of prediction markets means you can now bet on just about anything, right from your phone. Apps like Kalshi and Polymarket have grown exponentially in President Trump’s second term, as his administration has rolled back regulations designed to keep the industry in check. Billions of dollars have flooded in, and users are placing bets on everything from whether it will rain in Seattle today to whether the US will take over control of Greenland. Who’s winning big on these apps? And who is losing? NPR correspondent Bobby Allyn joins The Sunday Story to explain how these markets came to be and where they are going.

This episode was produced by Andrew Mambo. It was edited by Liana Simstrom and Brett Neely. Fact-checking by Barclay Walsh and Susie Cummings. It was engineered by Robert Rodriguez. 

We’d love to hear from you. Send us an email at TheSundayStory@npr.org.

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Now you can pair your big show with dinner and a more intimate listening experience. The Hollywood Palladium, an Art Deco music venue graced by performers like Frank Sinatra, Richard Pryor, Jimi Hendrix, Lady Gaga and Jay-Z since 1940, has debuted a swanky lounge known as Vinyl Room.

Inspired by 1970s Japanese high-fidelity (hi-fi for short) listening rooms and operated by entertainment company Live Nation, it’s a space where concertgoers can have dinner, grab drinks and catch a vinyl DJ set before, during or after their ticketed event in the same venue.

“You’re in [for] a whole night of music,” says Geni Lincoln, president of the California region for Live Nation, adding that her team put “so much thought” into the sound and design of the space, which was in development for more than two years.

“I’ve been coming to the Palladium since I was a teenager, so it’s really special to see,” she says.

Entering Vinyl Room feels like you’re stepping into a secret speakeasy for music lovers, one with iconic music memorabilia, a thoughtful food menu and premium sound quality. Want to check it out? Here are five things to know.

Everything inside of Vinyl Room is inspired by the sounds and the musicians who’ve played at the Hollywood Palladium since 1940.

1. Vinyl Room is exclusively open to members and concertgoers with an upgraded ticket

Vinyl Room is open only on Hollywood Palladium show nights, starting 90 minutes before doors open, and remains open one hour after the concert. Admission is limited to concertgoers who purchase a ticket upgrade, which starts at $35. Early reservations are recommended.

Vinyl Room also offers annual membership packages, which start at $2,000 and come with various benefits such as complimentary guest passes to Vinyl Room, access to an exclusive menu, valet parking, table reservations inside the lounge, a dedicated private entry, complimentary coat check and concert ticket credits.

Tip Dunn, also known as DJ tenSpeed, played records during opening night at Vinyl Room at the Hollywood Palladium.

2. Hi-fi is having a moment in Los Angeles — and Vinyl Room delivers on sound quality

From Common Wave Hi-Fi in Boyle Heights to Slow Jamz Gallery in the Arts District and Gold Line bar in Highland Park, hi-fi — a 1950s term used to describe the high-quality reproduction of sound — venues and experiences have been slowly popping up around L.A. over the last few years. Vinyl Room joins a short list of places where audiophiles can go to listen to music on hi-fi equipment, which many argue is the best way to experience it.

Much like the Hollywood Palladium, which is known for its top-tier sound, Vinyl Room also makes sound a priority. The lounge utilizes hi-fi sound equipment including Master Sounds Clarity-M speakers to ensure that the records sound as crisp as possible. Live DJs spin records on a set of turntables, which helps to create a richer and more analog sound that is closer to the original track than compressed versions such as MP3s.

Ruthie Embry, vice president of architecture and design at Live Nation, says the records and other memorabilia inside the space “connects you directly to the venue’s history the second you walk in the door.”

3. All of the decor ties back to music and the Hollywood Palladium’s rich history

With a name like Vinyl Room, you can expect to see vinyls everywhere. Records line most of the walls and shelves, drinks are served on vinyl-shaped coasters and tables and light fixtures are designed to the theme. There’s even vinyl wallpaper in the photo booth. In one corner of the lounge, you can dig through records under a neon sign that reads, “But have you heard it on vinyl?”

Ruthie Embry, vice president of architecture and design at Live Nation, says the records and other memorabilia inside the space “connects you directly to the venue’s history the second you walk in the door.”

Some standout items include a Red Hot Chili Peppers show flier, a Hollywood Palladium postcard signed by late musician and host Lawrence Welk and a photo of late singers Bonnie Baker and Orrin Tucker at the venue. Even the bathroom creates a memorable photo moment: The stalls are filled with photos of musicians and an “on air” studio sign lights up when a stall is occupied.

Vinyl Room’s menu, created by Chef Ryan DeRieux, is inspired by Asian flavors and includes items like the “Vinyl Roll,” which is made with spicy tuna.

4. Don’t worry about dinner plans before or after the show. Vinyl Room has got you covered

Eliminating the need to find a pre- or post-show restaurant, Vinyl Room has a full Asian-inspired menu created by Chef Ryan DeRieux.

Think sushi tots (like crispy tuna but with tater tots instead of rice), tuna poke nachos, chili crunch chicken wings and shiitake tempura burgers. There’s also a mouth-watering 10-ounce American wagyu skirt steak served with shishito peppers, pickles and charred carrots. For dessert, try the taiyaki, a popular fish-shaped Japanese street food, which is served with a delicious passion fruit cream that I wanted to take to go because I liked it so much.

Signature cocktails at Vinyl Room, inspired by popular songs, include the Superfly, Escape (if you like piña coladas) and Smoke on the Water.

5. The craft cocktails aren’t just delicious — they each have a story

Vinyl Room’s old-fashioned is made with Nikka Yoichi whisky, which is made in Japan.

The cocktail program, developed by third-generation bartender Sean Kenyon, is inspired by the songs created by musicians who’ve graced the Hollywood Palladium stage. A nod to the 1970s, the Superfly is a fizzy, citrus-forward play on Curtis Mayfield’s 1972 track and is made with Roku Gin and yuzu and sencha syrup. Other signature drinks include the rum-based Escape (if you like piña coladas) with coconut oolong syrup, pineapple juice and miso, and the tart yet sweet Smoke on the Water, which is reminiscent of Deep Purple’s 1972 song. The bar also offers an espresso martini (called the MT Joy), a signature old-fashioned (made with Nikka Yoichi whisky) and a Japanese whiskey highball (made with Hibiki Harmony whisky). The bar offers a number of non-alcoholic options as well.